Saskatchewan Real Estate

It comes as a surprise to many real estate investors to know that Saskatchewan is where residential construction investments seem to be surging upwards. The province leads Canada in percentage increase of the said investment for the year of 2007, and it looks like this trend will continue. It posted an astounding 37.4% increase, that’s up to $2.06 billion in 2007, which is a clear indication of the strength of its market. Residential real estate investments have three factors: new home construction, renovations to existing building, and acquisition costs.

This says a lot about market perceptions in Saskatchewan, with great demand and real estate investment pouring in.

Apart from new construction, revenue from rent increased by around $12 million between 2005 and 2006, according to Canada’s National Statistical Agency. Dollar volume is also highest in the province of Saskatchewan for seasonally adjusted MLS residential dollar volume in 2007 and early 2008.

As if taking cue, the demand for revenue real estate is at an all-time high in Saskatchewan, since 2004 onwards. The office market is likewise on an upswing, with several new building developments. Retail space is in demand; and there are continuous multi-residential developments. A current trend in the province is the conversion of old commercial buildings into residential units.

This demand may be a result of the burgeoning of the other industries in the province. While it is second to Alberta in oil production, Saskatchewan is more popularly known as an agricultural province. But even so, the finance, real estate, leasing and insurance sectors have become a leading contributor to Saskatchewan gross domestic product. These economic facts and the rapid development to date in the province are proof enough that Saskatchewan is a rising star in real estate.

Interested to know more about your real estate options in Saskatchewan? Click here.