Alberta Leads the Way

By: Jim Sparrow

Alberta is doing great up there in the national realty listings. This year Alberta has been tipped to lead the rest of the country with an upswing in realty prices. Kevin Clark, President of the Calgary Real Estate Board, reported some very true facts about investing in the realty market.

He is quoted as saying that real estate has always maintained itself as a strong investment within the economy of investments. Since he sees Alberta continuing as a strong economy, he predicts that this strength will drive the Albertan real estate market up.

The job market is extremely healthy in Alberta, reflecting the national climate; unemployment in Canada is currently at a 33 year national low.

Huge growth is expected in the Calgary region over the next decade, which will impact the Calgary realty market considerably. The expected numbers of newcomers to arrive in the next ten years has been quoted as 250,000 for a low estimate.

In a table showing different areas in which to invest, Calgary was placed at number three, Grande Prairie as number two and Edmonton as number one. The table, headed "Best Places to Sink Your Money", was published by the Calgary Herald.

It is strange for many of us Canadians to realize that while the US realty market is unhealthy at the moment, the Canadian market is flourishing.

So much so, that due to the strength of our dollar and the weakness of the US dollar, many Americans are investing in Canadian real estate to safeguard the value of their money. Right now is a good time for investments; with the seasonal lull in realty sales, some builders have dropped their prices slightly on brand new homes.

Buying, and then renting out, a condo is one of the easiest ways to make money; the property 'buys itself'. Condo sales everywhere have jumped as people are realizing the investment potential, and also the enjoyment of life without maintenance!

Calgary has seen some of the largest realty price increases in the country, a level of growth which, according to one newspaper, should now slow down and 'get back to reality'.

However, this does not preclude a slower continuation of rising prices in the Calgary property market. Average house prices in Calgary are set to increase in 2008 by 4%.

Over the next decade, as the population of Calgary increases along with jobs and house prices, the economic ripple will reverberate out to the surrounding areas of Calgary. It is expected that property as far out as Black Diamond and Turner Valley (in the foothills) will show an increase in property prices as they follow Calgary prices up.

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