Calgary’s condo market has been exceptionally healthy for quite some time now, but new numbers from the Summer 2014 Metropolitan Condo Outlook by the Conference Board of Canada, shows us just how hot things will get.
Condo prices in Calgary are expected to rise up to 6.6% this year, and our city is leading the country in annual price growth for apartments. Contributing to this hot condo market trend are three main factors: our healthy economy, low mortgage rates and low inventories.
“Calgary’s economic vitality is spurring employment and population growth, essential underpinnings of robust housing demand,” says the report. “Apartment condominium markets are responding. Resale volumes and price growth are advancing briskly, while nearly exhausted inventories of unsold new units will spur starts.
You can read the full report by the Conference Board of Canada online here, or check out this great infographic by CHBA Calgary online here.
