Throughout the coronavirus outbreak, Canada's real estate sector has been on fire. All areas of Calgary have experienced remarkable expansion, with record-breaking property appraisals and sales activity.
Even as the pandemic fades and life returns to normal, the Canadian Real Estate Association just announced January figures that show a 21% increase in average property prices since January 2021.
Where might an astute investor get the best value for their real estate dollar in 2023? Investing in Calgary is a sensible decision.
Real estate investing in Calgary is popular right now.
The Calgary Real Estate Board reports inventory levels at a six-year low. This shortage of inventory indicates that Calgary will see significant investment in 2021. Alberta experienced a net migration of 4,500 residents, with many opting to relocate from Canada's busier centres to more inexpensive smaller cities and suburbs. The increase in remote working has also contributed to a population redistribution away from city centres and toward leafier neighbourhoods a little further out. Calgary also attracts many new Canadians drawn to opportunities in the energy and technology industries, making it one of Canada's most diverse cities. Calgary is attracting new Canadians, retirees, young skilled workers, and remote workers. Those who are investing in Calgary real estate now have every reason to be enthusiastic.
A Calgary investment is an investment in your health and well-being.
Calgary is an outdoor paradise with over 20,000 acres of parkland and over 800 kilometres of trails and pathways, making it the most extensive network of urban pathways in North America. It is nestled in the foothills of the majestic Rocky Mountains, with easy access to Banff and Jasper, both of which are world class skiing destinations. Calgary has hosted the Olympics, and its Olympic Park has become a training facility for both professionals and amateurs, and it will most likely be used again in some future Winter Olympics.
This city should grow year after year as the new normal turns our focus away from money and cents and toward a work-life balance that prioritises solid ecological practises and a new respect for the outdoors.
There is no provincial sales tax in Alberta.
If the cost of living is an issue for you, the 5 percent federal sales tax will be a welcome relief from the 15 percent harmonised taxes paid in other provinces. Simply said, people gain up to 10% off practically all of their expenses simply for residing in Alberta.
Calgary townhomes are becoming increasingly popular.
The goal of home ownership typically comprises a single-family home with a picket fence, but with rising building costs and an unprecedented surge in average house prices across Canada, this dream is becoming increasingly difficult for many to realise. The demand for townhomes is increasing as a result of this new reality. The average Calgary home for sale is $670,000, but townhomes can start at a lower price. This initial rung on the home buying ladder is accessible to downsizing retirees, first-time buyers, and newcomers alike. Townhomes are less expensive to buy, maintain, and rent out. They are also a simple way to get started in Calgary real estate investing.
Calgary real estate is close to everything.
Calgary has attracted the interest of investors and individuals who have discovered this attractive suburb to be an ideal spot to raise a family or retire. Calgary boasts a population of over 1.3 million people who appreciate the convenience of shopping and dining, as well as easy access to the great outdoors and major attractions. Homes for sale in Calgary are in high demand and do not last long on the market. Anyone seeking for a fantastic deal in a growing neighbourhood should consider townhomes.