Category: Uncategorized

Canada, Alberta, and Calgary announced over $23 million in funding for two housing projects in Calgary under the Rapid Housing Initiative. The projects will create 64 new units, with a focus on supporting women and children. The funding is part of a larger $1.5 billion investment to address housing needs across the country. Continue to…

Canada's housing crisis is driven by success, with cities like Toronto, Vancouver, and Calgary being highly desirable. Local, provincial, and federal governments need to work together to increase housing options and affordability. Converting existing homes into secondary units could provide a solution, with streamlined processes and financial incentives needed to make it feasible. Continue to…

In Calgary, a solo buyer would need to save for 3.5-mo to afford the minimum down payment of $16,525. Condos are the most affordable property type, ideal for single-income buyers.

Fewer Calgary offices are vacant compared to the past two years, with the current vacancy rate at 28%. The downtown office vacancy rate remains high at 30%, but there is hope for improvement due to an increase in people moving to Alberta. No new office projects started in early 2024, allowing the market to stabilize.…

Calgary homeowners will face higher property tax bills due to an 8.6% increase, with the provincial government's education tax requisition rising by nearly 12%. The average monthly tax increase for homeowners is $26, while condo owners can expect to pay $20 more per month. Council approved the tax rate bylaw, with the mayor criticizing the…

Increase for high earners: After June 25, 2024, capital gains tax increases for profits exceeding $250,000.The $250,000 threshold applies to individuals, including gains through partnerships or trusts.

Calgary's Real Estate market is stabilizing, showing resilience despite economic fluctuations.Total sales have seen a modest increase yearly, indicating sustained interest in Calgary's housing market.

Calgary buyers are increasingly considering semi-detached homes due to rising prices of detached homes. In Early-Q1, the benchmark price for a single-family detached home was $702,200, while semi-detached was $625K.

Record mortgage rates have cooled Toronto and Vancouver markets, but Calgary's luxury segment is thriving. Domestic buyers from Ontario and British Columbia are flocking to Calgary for lower prices. The average price of a detached home in Calgary increased by 14.4% year over year. Modern homes are preferred over traditional ones, and out-of-province buyers are…

Downtown Calgary is rebounding according to CBRE Canada Market Outlook 2024. The downtown vacancy rate is projected to decrease to 27.9% in 2024, ↓ from a historic high of 32.4% in 2022.