Real estate investment in Canada is hitting records in the second quarter. What are our favorite opportunities in Calgary this month?
As we roll into the fall season, we have seen residential complexes and industrial/warehouses with transactions expected to total almost $50 billion this year.
$14 billion in commercial real estate transactions took place in the last three months.
Similarly, Apartments, long seen to be reliable investments, have received a boost in recent months as rising house prices have made many potential homebuyers consider alternatives.
Meanwhile, detached houses sold for an average of $580,000 last month, a little drop from August but a 6% increase over previous year. Some may take this reprieve in record price growth as an opportunity to make a move.
Detached homes accounted for 59% of all home sales, semi-detached, condos and other units comprised the rest of the market.
Here are some neighborhoods we have our sights on as we watch and see what property investors will do over the next quarter:
Last week we sold a great investment property in Renfrew and are continuing to keep an eye out for similarly priced activity in the area: Renfrew is a prime location for growth, development, investment, and redevelopment in Calgary’s Northwest for a few key reasons. Not only is it quite close in proximity to most of the city’s headlining attractions (Downtown, SAIT, university, Airport), but it’s neighboring communities such as Rosedale command premium pricing and with a steady appetite for infills and new opportunities, investors are beginning to watch this community with a keen eye.
Pineridge & Neighboring Communities
Calgary’s Northeast features a lot of homes that are now hitting the age at which many sellers consider refreshing or revamping their properties prior to listing to stay competitive. Homebuilders and contractors will be looking for opportunities to flip houses, and investors will be looking for great family homes in established communities.
Evanston & Area
Calgary’s north central area continues to be a hot buy for those looking to live on the northern end of the city in high quality master planned communities without making the jump all the way to neighboring satellite community, Airdrie. You only need to take a look at the sheer amount of new development and brand new communities taking shape just North of this district to see how much demand there is for existing properties nearby!
If you’re looking for information of consultation of investment property opportunities, you can always drop us a line!