In a year where market confidence in condominiums, and specifically condos in Calgary, soared, the southwest showed the most activity and consistently outshined the other quarters of the city.
Calgary, AB (PRWEB) March 08, 2013
In a set of figures recently released by the Calgary Real Estate Board, Zone C, which covers the southwest quarter of the city of Calgary, showed impressive numbers, with many communities demonstrating improvement both in terms of sales and sale prices. In a year where market confidence in condominiums, and specifically condos in Calgary, soared, the southwest showed the most activity and consistently outshined the other quarters of the city.
Although a report from the Canada Mortgage and Housing Corporation has indicated multi-family home and condo sales throughout the country might drop over the next year, Calgary has showed its resilience and market confidence is as high as it has ever been in the past decade. Developers continue to go forward with projects, introducing large affordably-priced complexes for young professionals and others looking to live near the downtown core, and these developments in turn translate into more sales activity as demand remains high.
This cycle seems stable and secure for Calgary due to the city’s involvement in some of the world’s largest oil and gas projects, and Calgary is one of the only major cities in the country that continues to project such optimistic real estate figures. For those interested in buying a Calgary condo this is great news, as it indicates condos will continue to become available as they are developed. It’s also good news for investors who are looking to capitalize on all of this real estate activity and buy Calgary condos.
Although it is still early to project what will happen throughout the rest of 2014, industry experts at the Canadian Home Builders Association-Calgary Division indicate that the cycle of growth should continue. The only factors that could limit long-term expansion for new Calgary condo projects is the availability of land, but innovative developers are finding every way possible to make quality condominiums available to those who need them.
Because of the high rate of resale activity in this area, and the overall price stability, Emethod Real Estate Inc, a new real estate company doing great work in the Calgary area, is recommending condos in the Southwest to investors and prospective homeowners alike. This is a newly developing section of the city, property values and real estate values are high, and are likely to stay that way the population increases and additional services begin to pour in. For those looking to find a condo in Calgary suitable to their needs, this area has plenty of options, and from a financial standpoint, the investment is both secure and affordable.