Are Calgary Prices Dropping: Breaking Down the Numbers

February 12th, 2024

In a landscape where real estate prices and sales volume are fluctuating across the country, Calgary stands as a beacon of resilience and growth. The most common question asked – “Are Calgary prices dropping?” Costas Kivelos, Founder of First Access Condos, breaks down the numbers below.

“Calgary has not only weathered the storm but has led the charge with double-digit increases over the past year. This city is emerging as the new jewel in the Canadian real estate crown, deemed the best investment on the continent”, says Costas.

Calgary Prices vs. Toronto Prices: A Tale of Investment Advantages

One of the most pressing questions for investors revolves around price trends – “Are Calgary prices dropping?”

In Calgary, prices are not only holding but are significantly more affordable compared to Toronto, being approximately two times less. The deposit requirements are friendlier in Calgary, standing at only 10%, as opposed to the usual 20% in Toronto.

Moreover, Calgary’s investor-friendly environment extends beyond pricing. The absence of a land transfer tax, provincial sales tax, and development charges in Calgary sets it apart from Toronto’s complex fee structure. A simple pre-construction contract with no hidden fees and guaranteed rent make investing in Calgary a straightforward and lucrative endeavor.

Watch Costas break down why Toronto investors are buying Calgary pre-construction condos.

Calgary’s Investor Paradise: Unique Features

Calgary, often touted as a “Landlord Paradise,” distinguishes itself from Toronto in several key aspects. There’s no rent control, providing landlords with more flexibility in pricing their properties. The eviction process is quick and straightforward, and landlords can legally include a “No Pets” condition in the contract, offering further control over their rental units.

Additionally, Calgary’s legal framework surrounding damage deposits makes it a hassle-free process for landlords. This, combined with minimal closing costs and a relatively quick occupation period, positions Calgary as an investor-friendly haven.

Facts and Highlights: Calgary’s Appeal

Calgary is not just a thriving real estate market; it’s a vibrant city with more than 1.4 million residents. The youthful demographic, with a median age of 37.2 years, contributes to the city’s dynamic atmosphere. Calgary is the third most diverse major city in Canada, boasting a multicultural community with over 120 languages spoken.

The pro-business economy and a friendly low-tax business climate further promote growth and investment opportunities in Calgary. The absence of a land transfer tax, no HST, and the overall affordability make Calgary a compelling choice for investors seeking positive cash flow and long-term returns.

In conclusion, while questions about real estate market trends abound, Calgary emerges as a steadfast and lucrative investment destination, offering unparalleled advantages and a promising future for investors and homebuyers alike.

Don’t miss your opportunity to get first access to Calgary preconstruction condos – register now.

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