Buying a Home Near Calgary’s Downtown Becoming a Popular Trend

Posted by Alan Zunec on Thursday, June 16th, 2011 at 11:50am.

Perhaps it is the high cost of gas, or the lack of interest in spending so many hours behind the wheel just trying to get to work. It could also be the attraction of living in a neighborhood with mature trees that is close to shops, services and entertainment venues. More and more home buyers are deciding to move to the inner city, rather than choosing an address in the suburbs.

The Calgary Real Estate Board has seen this trend in their fair city as well, particularly with singles or young couples that are just starting out. Developers are noticing the trend and building and/or renovating properties in areas on the shoulders of the downtown core. These could be brand new condos or single-family homes that come up for sale and need a bit of TLC.

Resale homes are playing a big part in the inner city market. Between January and May of this year, sales of pre-owned inner city homes were up some four percent over the same period in 2010. Compare that to the city-wide increase in sales of just two percent. Clearly the attention is going to properties within a stone’s throw of the vibrant downtown core.

There is a lot to be said about living in a locale with easy access to transit, plenty of shopping and that has considerable urban parkland. Buying a home that is close to Calgary’s downtown is also considered a stable investment since land is considered more valuable if it is in or near the city center.

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