Alberta Remains Top Province for Real Estate
According to a new report, Alberta continues to top the rankings in real estate markets across Canada.
A new study, ‘Emerging Trends in Real Estate 2015’, from the Urban Land Institute and PwC pegs Edmonton and Calgary as the top two cities in Canada for real estate.
Strong job creation, continued urbanization, downtown development and population growth are among the reasons why Calgary and Edmonton took the top spots.
Data also shows 27 per cent of the Canadian population as Millennials and 27 per cent as Baby Boomers. This suggests the real estate market will be heavily active in the near future.
Boomers’ housing needs are changing, and not only are Generation Y migrating and buying homes, Generation Z is also on the verge of becoming a massive home buying and real estate investment force as well. According to a recent Wakefield Research study, Generation Z is incredibly bullish on real estate ownership, with over 80 per cent saying it is critical to them.
These factors, as well as the side effects of more global economic and real estate trends are colliding to provide for more fuel to the growth of Alberta’s top cities. When compounded, many may find their investment property performances in Alberta exceptional.