Calgary Earns Gold Star For It’s Hot Real Estate Market

Posted by Alan Zunec on Friday, February 15th, 2013 at 2:47pm.

Calgary is currently enjoying a very hot real estate market, one of the best throughout North America. Don Campbell, a senior analyst from the Real Estate Investment Network noted that the increasing population, thanks to abundant jobs and a near-stellar economy are driving that market.

A few items on the economic front are a bit problematic, due to a decrease in the energy returns, but these aren’t expected to last long. Campbell noted that companies have billions of dollars invested in the exploration of the oilsands. Getting to that oil is just a matter of time, money, persistence and in some instances, creativity.

Real estate in Calgary is also proving to be affordable, unlike places like Toronto. In that city a 650 square foot condo might cost you $600,000, unaffordable and perhaps impractical for most. Even with prices increasing somewhat in the last few years, Calgary is turning out to be a real bargain because pure economic is driving the real estate engine, not mere speculation.

Campbell noted that retirees might consider selling their Calgary properties since the values have increased. Many do want to downsize after the kids leave home and this is the perfect opportunity to do just that. Get a smaller place and spend more money on impromptu vacations. Adventurous souls might want to explore local lifestyles by renting condos or homes for extended stays in places like Hawaii or Panama. It just depends on what makes economic sense as well as what makes you happy.

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