Calgary’s Real Estate Thrives Amidst Canada’s Population Boom

January 12th, 2024

In the latest report from Statistics Canada, Canada’s population has surged to an estimated 40,528,396 as of October 1st, 2023, marking a significant growth rate of 1.1% since July 1st, 2023, with an increase of 430,635 people. This surge, the most considerable population expansion in a quarter since 1957, has far-reaching implications, especially for real estate markets nationwide. But the most common question we hear and breakdown today is “Why Calgary’s real estate is thriving amidst Canada’s population boom?”.

Key Population Highlights Impacting Calgary’s Real Estate Market:

  • Unprecedented Growth: The first nine months of 2023 recorded the largest population growth on record, totaling 1,030,378 people, continuing a trend that commenced in 2022.
  • Provincial Growth: All provinces and territories, excluding the Northwest Territories, experienced population growth. Notably, Alberta, Prince Edward Island, and Ontario led the pack in the third quarter of 2023, with growth rates surpassing the national average.
  • Alberta’s Distinctiveness: Alberta stands out as the sole province experiencing net gains in interprovincial migration, marking the fifth consecutive quarter with gains exceeding 10,000—an unprecedented trend since 1971.
  • Interprovincial Dynamics: Alberta’s gains are attributed to interprovincial exchanges, particularly with Ontario and British Columbia. Notably, Ontario faced its first five consecutive quarters of migration losses since 2013.

As the population surge echoes across the nation, Calgary, nestled in Alberta’s thriving landscape, emerges as an epicenter of real estate and pre-construction growth.

The intersection of rising population dynamics and dynamic shifts in real estate trends establishes Calgary as a city of significance for both investors and homebuyers. As the population boom continues, fueled by an influx of new residents, the focus is on preconstruction condos in Calgary – becoming not just residential spaces but strategic investments with the potential for substantial returns.

Investors are drawn to the prospect of tapping into Calgary’s real estate market, leveraging the city’s unique advantages such as no land transfer tax, a pro-business economy, and a dynamic, diverse population.

Canada’s growing population continues to intertwines with the Calgary real estate market. Don’t miss out on the opportunity to get first access to pre-construction condos in Calgary – they’re going fast. Register Now

Sources: Statistics Canada and CIC News

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