Tuesday, March 18, 2008

International Investors Head To Calgary

"The outlook remains extremely positive for the underlying strength and stability of our economy and will continue to make real estate in Calgary a prudent long-term investment," Susan Thompson, research manager at Avison Young Commercial Real Estate (Alberta) in Calgary

Calgary's real estate market is incredible. It is the headquarter central for many huge international companies and the workforce is young, growing and highly paid but lowly taxed. It's a small wonder that big money investors are flocking to put their money into the city for the long term.

However the residential investor is going to Edmonton. Why? Well one point is the difference in income between the two cities is marginal but the difference in real estate prices are an incredible. Edmonton average single family residential house price is about $381,965 and in Calgary the price is $481, 287. More and more people will relocate to Edmonton as a result of more affordable housing. As the demand increases the prices will move closer and closer to Calgary's.

So for the residential market Edmonton is your top choice. Who knows with more and more leading business locating there headquarters in Edmonton (CN Rail, Finning, GE and Neiman Marcus are a few) Edmonton is giving Calgary a run for it's money.

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