Calgary HeraldAlberta real estate an investors dream...... Report ranks Edmonton No. 1 in nation; Calgary third
Wednesday, October 18, 2006
Kevin Clark, president of the Calgary Real Estate Board, said real estate has "always maintained itself as a strong investment within the economy of investments."
"Now is probably one of the best times this year to be in a position as a buyer to enter the investment marketplace if they can . . . and long-term real estate should maintain itself as an investment," said Clark.
"An investment is going to be driven by the outside economy upon it. So if all the economic factors occurring in a given geographical area are strong then, yes, real estate is going to be a very good investment within that marketplace."
Campbell said Alberta will outperform the rest of the country this year, with a conservative estimate of a 10 to 15 per cent increase in the average price of residential real estate across the province.
"In Calgary, the market can't sustain the 40 per cent increases we've been seeing," added Campbell.
"It has to come back to reality in the next 18 months. But the Alberta reality will be records anywhere else."
The top investment places in Alberta also include Okotoks, High River and Cochrane.
"Lots of stuff in the Calgary region. The ripple from Calgary once again is pushed out. The in-migration, I think, is going to be the No. 1 thing for the region," said Campbell. "They're talking 250,000 new people (will move) into Calgary in the next decade, and I believe that's going to be low.
"On top of that, when Calgary starts to get more expensive . . . that pushes out into the surrounding areas and you could almost start including Black Diamond, Turner Valley."
Vic Pasay, a lifelong Redwater resident and Sturgeon County councillor who sits on its Economic Development Board, said: "I'm surprised to hear it, word has gotten out" of its fourth place ranking, tied with Red Deer.
"Sturgeon has always been very open to investment and so has the community. We're positioned strategically between Fort McMurray and Edmonton to make these projects happen," he said.
In addition to three heavy oil upgraders, Sturgeon is the proposed site of a hog processing plant and a bio-diesel facility to turn canola oil into fuel.
The county implemented an economic development department seven years ago to attract more industry to the community.
Best Places to Sink Your Money
Top real estate investment areas in Alberta, according to the Real Estate Investment Network
1. Edmonton: Market poised for "a strong, long run"
2. Grande Prairie
3. Calgary
4. Red Deer
5. Sylvan Lake / Lacombe
6. Okotoks / High River
7. Fort Mcmurray
8. Devon
9. St. Albert
10. Lethbridge
Mario Toneguzzi, with files from Shaun Polczer, Calgary Herald, Calgary Herald |