Are Good Days Ahead for Edmonton Real Estate Investments?
[caption id="attachment_1373" align="alignright" width="300"] Image Source: Jill and Ian[/caption]
If there is any reason to be anxious over the current commercial real estate developments in Edmonton, it should be in regards to finding a good investment opportunity quickly before the best deals are taken.
Canadian real estate investors have been increasingly turning their eyes to Edmonton. One media outlet recently stated that this might be causing anxiety about rising prices and worker shortages.
We've only just begun to see the tip of the iceberg in terms of commercial real estate development in Edmonton. Billions in construction projects are currently in the works and as the city continues to gain prominence on the world stage, experts expect that to grow significantly. Edmonton has already been declared as the Canadian front-runner for investment in 2014, beating out Calgary. As Asian economies are dealing with falling property prices (for example, the Hong Kong housing bubble), it appears that international investment into Alberta may far exceed the forecasts thus far. The rising prices and worker shortages are actually good "problems" to have, and with high unemployment worldwide, there should be little challenge in attracting more talent to Alberta. This trend will be great for everyone and will especially provide a welcomed boost to Edmonton retailers, and in turn, their landlords.
Final approval has also finally come for the $1.8 billion infrastructure investment in Edmonton's southeast LRT line, and construction is set to begin in 2016. The bottom line is that this is all great news for local Canadian retail property investors, especially for those getting in ahead of the busier summer real estate season. As the weather warms up and school gets out, more individuals and families will be looking to move into Edmonton.