Why Affordable Condos Are Thriving in Calgary's Real Estate Market!

Typically the condo fee per month is almost the same as the Mortgage loan on the home. Condo fee is a KILLER. No wonder condos are a poor investment. its easy to say its affordable. Why dont you mention the condo fees- very conveniently not discussed.

As a retiree, I'm going to stay in my home as long as possible. Dealing with condo boards or getting good people to serve on them is a big drawback to living in one.

Good Video

Just want to know or if you can specify where in the city are you talking about these condos that have not gone up in price. I Just sold my condo and it was valued 80000 more from when I bought it. And all the condos that have sold where I had my condo when over the price it was original bought for.

If you have lived in AB for over a decade you know pretty well how our economy works, I remember back in 2011-2014 alot of people moved from other provinces to AB for jobs and lower living costs, however many of those people eventually moved back out west or east because of layoffs or the weather or the fact that Calgary isn’t a huge metropolis and we simply do not have the density or the amenities. I believe we have entered a new area of living cost in calgary and home prices have gained a premium, however, if the economy continues to slow those people moving here buying up overpriced real state will have a serious reality check in the near future.

All I can say is that the other day real estate agent was running door to door asking if I want to sale my house. It looks like prices will go up big time in 2024. And I think by big $$$

As someone who grew up in calgary. Don't but a condo! At least buy a townhouse. Condos were and are terrible investments. With the demand of more "homes" they will build so many condos, which will devalue all apartment style condos. Land is an asset, the building is not!

You're trying to convince people to sell their condos. I can see right through it.

I’ve been actively looking for condos for the last four weeks, and their prices are getting lower by the day. A lot of condos are back on the market even with the lower and reduced prices because no one wants to buy. I’m mostly looking in downtown area. And of-course when I call the realtors they all say it was back on market because financing didn’t go through. Also BUYERS. Do the math . If your apartment isn’t cash flow positive with 20% down. Don’t get it. Compare it to rentals from RentFaster.. and remember not all rentals get rented from RentFaster, sometimes rent price is negotiated

Also immigrants often don’t earn as much so the higher ticket priorities will have a harder time to rent & sell

30% of immigrants that came to Canada plan on leaving in 2 years.. let that sink in

Csn you elaborate on the situation where condos are being built with cheaper materials are more like sardine boxes? That's what I've seen. Walls and doors that are made from plywood. Sizes of two bedrooms at less than 1000 square feet with little storage. Bedrooms that don't allow for twin beds and even a dresser. It's great for very young singles or a young couple, but what about everybody else who don't feel like living in sardine boxes at half a million dollars?

there is endless land around Calgary, Toronto is land locked, New York is Land locked, Vancouver land locked. The only thing propping up the housing market in Calgary is the slow building and the massive influx of new people to the city. Eventually it will even back out as building catches up with the Influx of new people coming in.
Apartments will only ever sell for the amount of rent you can bring in, Right now rent is high so they sell for more. when rent returns back down to a normal rate the prices of the units will also drop. Unfortunately condo fees and property taxes are very high on apartments and make them terrible investments. A 800 SQ/ft apartment pays half the property taxes my house does and receives so little from the city in comparison. Apartments will never be a good starter home and the best would be a duplex or townhome however you need to be on the board and watch the fees or the value will plummet if the fees get to high.

Calgary has enormous land mass, low tax rate environment and low regulations can potentially make it a victim of its own success. There can be over-supply which can in turn depress prices, obviously depending on whether you’re a buyer or investor.

Calgary real estate remained robust despite >10 interest rate rises. What do you think will happen when BOC starts reducing interest rates as predicted by most economists? It’s going to be a positive boost for the market.

I think macroeconomics picture was s favouring upward prices. These include positive migration into Calgary , relative affordability cf bigger Canadian cities , likely lowering of interest rates and low inventory.