38% Hike Recorded in the Luxury Real Estate Market, Claims CREB

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Marcus Arkan, CTO of Syndicate Mortgages and mortgage expert, highlights the recent hike in Calgary’s luxury real estate market as well as the continuous upward trend recorded in the segment over the years.

The resale MLS (Multiple Listing Service) market of Calgary recorded a 38% jump in the sales of the city’s luxury real estate. According to the Calgary Real Estate Board, a record number of luxury homes were sold in April this year in Calgary. Mortgage expert and CTO of Syndicate Mortgages, Marcus Arkan feels that there are a number of economic factors that have contributed towards the positive trend in Calgary’s luxury real estate segment.

The Calgary Real Estate Board (CREB) reported that in the month of April, the number of home sales were highest than in any other month. The real estate market of Calgary has been experiencing an upward trend continuously from 2006. In 2012, the luxury home sales summed up to 544.

In comparison to April 2012, when the luxury real estate market recorded the sale of 47 homes this year in the month of April, the total home sales were 65. This comes as quite a surprise, especially at a time when the Canadian real estate market has just missed a housing bubble.

These properties are a part of luxury real estate as they are priced and sold for more than a million dollars. According to mortgage expert, Mr. Arkan, “A few key economic reasons are responsible for the rising trend in the luxury real estate market of Calgary. The reason why home sale figures are constantly moving upwards is because Calgary has lower mortgage rates. Also, due to the increase in income levels of people throughout Calgary, the purchasing power for luxury homes has gradually increased and there are many potential buyers who have the willingness and the ability to buy luxury real estate in the city.”

He also mentioned that a larger home inventory was also a reason for the boom in Calgary luxury real estate. As people get more variety to choose from and have more options, they are more willing to buy a home in the luxury segment of Calgary real estate.

Mr. Arkan believes that this is a great time to shop for property in Calgary and advises new home buyers to invest in the lucrative luxury market of Calgary.

To know more about Canada mortgage rates, please visit the website http://www.syndicatemortgages.com.    

About Syndicate Mortgages Inc.
Syndicate Mortgages Inc. is one of the leading Canadian mortgage brokerage firms. Founded in 2008 in Ontario, the company specializes in residential, commercial and construction financing across Canada. With years of experience and expertise in the mortgage industry, and access to an array of lending institutions across Canada, Syndicate is known for finding the best mortgage rates for their customers. Syndicate has branch locations across Canada. For contact, please use the following details.

Contact Details
Syndicate Mortgages Inc.
Toll Free: (888) 646-1062
Email: info(at)smibroker(dot)com

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