Many Canadians are looking for ways to invest in real estate and have been considering Calgary condos. After all, the city is known for its booming economy, diverse culture and spectacular landscape.
Not to mention, there is no other place quite like it when it comes to investing in real estate!
From understanding the current market trends to calculating cash flow and more, read on to learn why this may be the perfect time to invest in the city’s housing market.
An increase in rental potential is one of the most important reasons to invest in Calgary condos this spring. The vacancy rate for rentals in the city has been on a steady decline over the past few years, and is now at an all-time low of 1.8%.
This means that there is high demand for rental units, and Calgary condo investors can expect to see strong returns on their investment.
In addition, the average rent for a one-bedroom condo in Calgary has increased by 4% over the past year, and is now $1,650 per month.
As such, investing in a Calgary condo is a great way to generate high rental income.
A Booming Economy
In recent years, Calgary has been ranked as one of the best cities in Canada to invest in real estate. And, with good reason! The city has a booming economy, thanks to the oil and gas industry, as well as a growing tech sector.
As a result, there is a high demand for housing, which has started to drive up prices.
However, this spring is a great time to invest in Calgary condos. Here are three reasons why:
1. Mortgage rates are still low.
Despite the fact that interest rates have risen slightly over the past year, they are still relatively low. This means that you can get a good mortgage rate on your condo purchase.
2. Rental demand is high.
With the strong economy, there is a high demand for rental properties in Calgary. This means that you will be able to charge top dollar for your condo unit, should you decide to rent it out.
3. Prices are expected to rise even further.
Experts predict that prices in the Calgary real estate market will continue to rise in the coming years. So, if you buy now, you stand to make a great return on your investment down the road.
Young, Diverse Population
Calgary is a young and diverse city, with over 50% of the population under the age of 35. This makes for a vibrant and exciting cityscape, with plenty to do and see. The city is also home to a number of immigrants, which further enhances its cultural richness.
All of these factors make Calgary an attractive place to live, work and invest in. The real estate market in Calgary is currently very favourable for buyers, making this an ideal time to invest in a condo. Prices are expected to rise in the coming years as the city continues to grow in popularity.
Investing in Cedarglen Living Condos
Cedarglen Living Condos in Calgary are currently very well-priced and readily available. Prices range from around $200,000 – $600,000 with a variety of sizes to suit any lifestyle. The location is ideal for those looking to be close to all the amenities of downtown Calgary while still being tucked away in a residential area. Residents enjoy easy access to nearby parks, shopping centers, entertainment venues and more. There is something for everyone at Cedarglen Living Condos!
Why Invest in a Cedarglen Living Condo This Spring?
Calgary is the last major city in Canada that has affordable housing, which means the return on your investment should be much greater than anywhere else during this current window.
Apartment sales are experiencing a major boom in Calgary, with prices matching record highs in the city. The longer you wait to invest, the more diminished your potential return on investment.
With a significant increase in immigration coming post 2025, along with the cross-province movement to Alberta rising each quarter, demand is going to get greater, while supply is shrinking. This means prices are only going to go up.
Because we at Cedarglen Living actually have inventory of new apartments, our owners have been renting their unit in a single day with 50 applicants waiting in line.
Alberta is incredibly landlord friendly, from the perspective of provincial policy towards:
- Rent increases
- Tenant rights
In order to take advantage of this limited investment opportunity window, we encourage you to take a look at our current available units, and get your foot in the door before it slams shut!