Calgary Soon To Be Displaced By Edmonton For The Top Investment Spot In Canada
Both Calgary and Edmonton were recently named the top 2 real estate investment cities in Canada for 2013 and it is quite possible they will be among the most attractive on the planet next year if economic woes in Europe and the United States continue.
However, while Calgary claimed the crown for delivering the best commercial real estate investment returns in the world last year there is no question that its popularity is quickly becoming its biggest enemy when it comes to the potential for returns. There are already predictions of a slowdown in Calgary’s residential market due to its high cost, just as the high demand for commercial space is leaving little room for companies and lack of movement could stifle growth. In fact one downtown Calgary shopping centre has just hit the global list of most expensive retail rents.
Then in contrast there is Edmonton. Edmonton benefits from all the same economic advantages Alberta offers and is becoming increasingly attractive to new residents and businesses for its affordability. In fact, the world’s 3rd largest biotech firm just announced plans for major expansion in Edmonton. This follows on from Target and Walmart targeting the city for numerous new retail outlets, as well as other companies and international retailers.
In fact, Edmonton isn’t just becoming more attractive for Canadians but has also recently been listed as one of the top locations for corporate head offices in all of North America.
What is critical for real estate investors everywhere to remember when choosing an investment destination is that savvy investment isn’t just about jumping on what the media is calling a ‘hotspot’ today or what their friends have been investing in and bragging about. Smart investment is about looking at the real digits and individual opportunities; seeking protection for capital first, investing for stable and reliable income, with good prospects for acceptable returns and the best prospects for growth.