Grande Prairie Real Estate

Alberta’s Grand Prairie is northwest of Edmonton, the province’s capital. It is often referred to as “The Peace Country;” and understandably so, for it comes off as low-key and serene. Grand Prairie highlights an attractive mix of urban and rural.

Grand Prairie also boasts of lush resources, both renewable and non-renewable. That being, its top industries include agriculture, forestry, and oil and gas. Manufacturing also plays a big role. Its main products are lumber and pulpwood.

The city is also the shopping hub in its area, owing to Alberta’s zero provincial sales tax. (It is no surprise to see several British Columbia license plates in Grand Prairie malls.)

Grand Prairie is considered one of Canada’s fastest growing cities. Its population grew by 6.9% in 2007, that’s 50,227 in total population, compared to 2006’s 47,076 total population.

The city has a healthy business climate, with a very low unemployment rate. In fact, a persistent problem in local commerce is the lack of workers. Its major employers include the health care giant Peace Country Health Region, Prairie Mall Retail, and the lumber company Weyerhaeuser Canada Ltd.

And, as Grand Prairie actively recruits migrants to fill in job vacancies, population is expected to continue growing.

Such growth is captured in the consistent increase in real estate investments. Residential real estate construction has increased from $57,968,000 to about twice in 2005 with $123,131,979. Commercial real estate investment has also grown from $14,210,000 in 2001 to $50,143,812 in 2005. This growth in construction is said to be encouraged by decreasing mortgage rates since 1994. Mortgage rates are said to be at its lowest in fifty years. These trends are projected to continue until beyond 2008.

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