Alberta has been standing out as a top international destination for commercial real estate investment for a while. And current trends and fundamentals suggest even better things are ahead for the province. Here are five trending topics that are raising Alberta's profile.
1. Public Transportation
Edmonton's LRT system is set for incredible expansion. With it, comes ease of access and growth of property values. Real Estate Investment Network (REIN) models and testing suggests that properties in close proximity to LRT stations could see an additional 10 €“ 20 per cent boost on top of the current appreciation.
2. Infrastructure Development
Currently, billions of dollars are being poured into developing Edmonton's downtown. Regional mayors are pushing to get a second outer ring road built around the city centre. Furthermore, city attractions such as museums are consistently being added. It also doesn't hurt when several post secondary schools have recently been upgraded to university status.
3. Real Estate
Local home prices continue to edge up. Calgary has set numerous new real estate records in the last year. According to the latest data, Edmonton condo prices are up 7.8 per cent year-over-year. This sustainable trajectory is expected to continue and will fuel increased consumer spending and power retail growth.
4. Financial Strength
Canada as a whole maybe regarded as one of the strongest countries economically. With that being said, Alberta is home to 31 per cent of the nation's billion dollar firms.
5. Top Talent
Between universities, tech hubs and new platforms promoting jobs to international talent, the local worker pool is expected to strengthen €“ giving Alberta an international edge in competitiveness and in turn attract more international companies and investment.
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