Be it a new organization setting up business in Calgary or an old one expanding its boundaries Calgary needs a lot of space for its office requirements, resulting in an unprecedented real estate expansion. A blend of both economic and demographic factors has made Calgary real estate a strong market. A few factors like low lending rates, low mortgage rates have really pulled the public into investing in real estate. The vast oil sands in the north of Alberta and weakening of the Canadian dollar by 10-15% have attracted a lot of foreign investors and immigrants, into investing in real estate. The house rents at some places of Calgary are so high that it is cheaper to pay EMI for a home rather than renting one. Demographically speaking, the population of Calgary has grown rapidly in past few years and has increased the demand for housing. With amount of disposable income increasing, the amount of people investing in Calgary real estate has increased. Calgary has 33.1 million square feet (sf) of downtown office space and there is also 17 million square of suburban office space available. The average age of the office buildings in Calgary is lower than most of the Canadian cities. In the present scenario the above stated factors have converged and contributed big time to Calgary real estate boom. It has a good blend of both, excellent return for investments for sellers, and also providing sheltering opportunities to the general public of Calgary. The will continue as long as the interest rates remain low and demand in the market is higher. According to economists, for the time being Calgary real estate business is on a high and this will continue for some time.
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