What Sets Boardwalk REIT Apart in the Real Estate Market?

2 min read | October 03, 2024 06:32 PM EDT | By Team Kalkine Media

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What Sets Boardwalk REIT Apart in the Real Estate Market? — Image source: Shutterstock

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Highlights:

Boardwalk Real Estate Investment Trust's (REIT) average occupied rent for August 2024 was $1,485, approximately 36% below the Canadian average for a two-bedroom apartment.

Edmonton, the Trust’s largest market, reported an average rent of $1,704 for a two-bedroom unit, according to the September 2024 Rent Report.

Boardwalk REIT shares (TSX:BEI.UN) were trading at $84.00, down by $0.25.

Boardwalk Real Estate Investment Trust Update on Affordable Housing Demand

Boardwalk Real Estate Investment Trust (REIT), operating within the real estate sector, continues to experience strong demand for affordable rental housing across its key markets. This demand is a significant indicator of the persistent need for rental properties that are priced below the national average.

Average Rent Below National Levels

As of August 2024, the Trust’s average occupied rent stands at $1,485 per month. This figure reflects Boardwalk's competitive positioning, as it is significantly lower than the Canadian average rent of $2,310 for a two-bedroom apartment. The data is based on the September 2024 Rent Report from Rentals.ca, which highlights a broader trend in the Canadian housing market where rental affordability remains a concern for many tenants.

Focus on the Edmonton Market

Edmonton, one of Boardwalk's key markets, shows a slightly higher average listing rent compared to the overall Trust average. According to the same report, the average rent for a two-bedroom apartment in Edmonton is $1,704. Despite being higher than the Trust’s average across all markets, Edmonton's rental rates are still positioned to provide value in comparison to the national average.

Current Share Price Movement

Boardwalk Real Estate Investment Trust shares (T.BEI.UN) were trading at $84.00, experiencing a slight decrease of $0.25. This price movement reflects the ongoing market fluctuations, but the Trust's ability to offer lower-than-average rents may continue to drive tenant demand in its portfolio.

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