The redevelopment of the East Village has brought new life to an area that was once a no man's land of unsightly industrial buildings and decaying historic landmarks.

An influx of new residents has breathed life into the area, but as modern condo towers rose and filled up with buyers, one thing was lacking: rental options.

The redevelopment of the East Village has brought new life to an area that was once a no man's land of unsightly industrial buildings and decaying historic landmarks.

An influx of new residents has breathed life into the area, but as modern condo towers rose and filled up with buyers, one thing was lacking: rental options.

Valuable information for prospective homebuyers

Canada's new mortgage qualification rules and how they could affect you

On Jan. 1, 2018, new mortgage rules came into effect. Under the new rules, Canadian mortgages are subject to stricter qualifying criteria. Ultimately, this means some buyers will have to settle for less expensive homes than they could have qualified for prior to the rule change – up to 20 per cent cheaper in some cases.

All homebuyers must now go through the mortgage stress test:

A closer look at the numbers behind Calgary's apartment-style housing market

Statistics Canada recently released an interesting piece of information regarding Calgary's residential real estate market that went relatively unnoticed.

According to the government agency, the share of households in the Calgary census metropolitan area living in condominiums was 21.8 per cent in 2016. That represented the second highest percentage in the country, behind only Vancouver at 30.6 per cent, and was much higher than the national average of 13.3 per cent.