Calgary Real Estate

It looks like things are still looking up for the city of Calgary as several development projects push head-on this year. Even though Calgary has already poised itself as an economic leader in Canada for the last decade, it continues on its upswing.

Population is growing in the city, as the number of in-migrants and immigrants increases to fill in employment needs. Calgary is the locale of several head offices, and it is even dubbed as the “Head Office Capital of Western Canada.”

The WAM Development Group is set to begin its StoneGate Landing Project, which will encompass 1,100 acres of prime commercial land. The development is projected to become a commercial mecca in Alberta within eight years, thereby creating jobs, improving the quality of life, and pushing Calgary’s economy through the roof.

Thus, real estate is expected to still sail on high. Housing starts for 2008 is projected at 14,000. Rates of existing homes and properties in MLS have flattened off at $420,800 in April 2008, down by only about five thousand dollars since a year before. Economists credit this to the balancing of the two key cities in Alberta, Calgary, and Edmonton, from the economic surge they experienced years prior.

The influx of new workers in the city is seen to boost real estate, as more and more buyers get into the market. Likewise, the increasing number of business and commercial opportunities in the city is expected to pump up average income, such that a lot more people can afford to invest in homes.

Now is deemed a good time to invest in real estate in Calgary because rates remain steady. As several development projects have begun in the city and the rest of Alberta, many expect a new boom in a few years time.

Interested to know more about your real estate opportunities in Calgary? Click here.