The real estate market has been a hot topic in Canada for the last few years with prices of property increasing and the likelihood of owning for young families decreasing. Skyrocketing real estate prices are more prevalent in Vancouver than any other province in Canada. While most people predict the “bubble” will burst soon, the market is telling us otherwise. For those who have invested in property, it’s great news. For others, looking for a home just outside of the city may just be the next best investment strategy. North Vancouver, Squamish and Coquitlam are coveted cities for opportunities to own at a good value. With our Green on Queensbury project at 98% sold within 6 months, it’s anticipated that regions such as North Vancouver will see a surge in home ownership sales in the next year within a competitive market.
Focusing on our neighbouring province Alberta, the energy sector is making a comeback and so is rising oil production. As a result, gross domestic product (GDP) is predicted to increase by 4.6% this coming year. In addition, retirement and demographic shifts are also creating new skilled employment opportunities which will once again boost Alberta’s economy. Investors are now beginning to target the Alberta market again and real estate will most definitely be on their list. For those deciding to buy into the market, timing is key and as the economy starts to bounce back, this creates a window of opportunity for buyers to lock in prices before it starts to climb. With reports of townhome sales increasing 31% within a month, demand for real estate appears to be on the rise. Prices of homes in Calgary such the Park Point project are 50% less than comparable homes in Vancouver with the exclusion of foreign buyer tax.
When it comes to smart investment in real estate, the primary rule of location still matters. Coveted locations for real estate that add to re-sale value and quality of living include areas that are centrally located, close to green space, a functional layout, quality of build, amenities and accessibility to transit.
Park Point is part of a contemporary neighbourhood located in the heart of Calgary’s Beltline closely positioned to lifestyle amenities (9,000 square feet of amenities on Central Memorial Park and two blocks from the business district). Built with the buyer in mind, features within this building integrates core principles such as quality and modern living which is woven into the planning and construction of this parkfront project.