Commercial real estate investment in Alberta is changing. It has firmly tipped in the favor of Edmonton for investors.
Calgary has long dominated both the media and Canadian investor attention. Fueled by a strong energy backbone, Calgary has become a thriving world city for business, investment and a popular choice for luxury home buyers. However, experts have been predicting Edmonton would overtake Calgary in terms of both appeal and fundamentals for several of years now.
In July 2014, the Calgary Herald published new coverage of sizable commercial real estate investment firms trading Calgary for investment opportunities in Edmonton. The feature details that while many Calgarians are envious of the new NHL arena in Edmonton, sophisticated investment firms are shifting their dollars to take advantage of the city's development and population boom.
In addition to commercial real estate investors making the move retailers, head offices and startups are also choosing Edmonton. Some are choosing the city for financial reasons, while others simply recognize the vibrant destination's benefits for growth.
It only makes sense, as it all boils down to affordability. Leading property industry minds consider this the most important indicator of future performance. It's no secret that Edmonton is more affordable than Calgary.