MichaelS
Senior Member
Would they maybe be thinking of an office to residential conversion? Any idea how full that building currently is?
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Calgary real estate market
- Thread starter Davidackerman
- Start date
They should convert it to residential
Mountain Man
Senior Member
They should kick out Tim's and get a real coffee shop too!
DougB
Senior Member
The floorplates look suited for a residential conversion.They should convert it to residential
trunnelshow
New Member
I'm from a company called HouseSigma and I'm looking to speak to some people in Calgary about their experience using real estate platforms such as Realtor.ca and Honestdoor. If you've used either of those platforms, please reach out to me. Don't worry, happy to compensate for your time!
Lively condo market pushes Calgary home sales to May record: CREB
The Calgary Real Estate Board says the market hit a new May record for sales as the number of properties that changed hands reached 3,120 last month.
calgaryherald.com
Condo apartment sales last month were up 36 per cent from May 2022, at 858 units, lifting year-over-year sales gains by four per cent.
Calgary homes lead nation in price gains amid year of rising interest rates
Rising interest rates have mostly kept the lid on home prices across Canada.
calgaryherald.com
boreal96
New Member
I'm planning to buy a condo in the coming years but I already feel I have missed the train haha.
I don't think Calgary will reach Vancouver or Toronto level pricewise; especially condos, but I believe there is no coming back to Covid prices.
Now you may argue that Calgary has infinite land I don't see the offer matching the demand. Canada will get millions of immigrants the coming years and with Toronto and Vancouver reaching saturation level, Calgary should become a prime destination.
I mean we already seing this, the population is growing quickly again but there is not that many new constructions projets across the city.
What is your take on this ?
I don't think Calgary will reach Vancouver or Toronto level pricewise; especially condos, but I believe there is no coming back to Covid prices.
Now you may argue that Calgary has infinite land I don't see the offer matching the demand. Canada will get millions of immigrants the coming years and with Toronto and Vancouver reaching saturation level, Calgary should become a prime destination.
I mean we already seing this, the population is growing quickly again but there is not that many new constructions projets across the city.
What is your take on this ?
I was just thinking about this yesterday. Lot of proposals out there, but so many are still sitting idle. I think Calgary will grow by some heavy numbers in the next few years, it'll be interesting to see how the market is.
CalgaryTiger
Senior Member
I think interest rates are really kneecapping new builds. Ironically, and IMO, the higher interest rates are actually hurting affordability because new units cannot be built with the cost borrow to build. I'm hoping government (municipal (no faith), provincial (no faith), and federal(no faith)) will step up and help affordable home builders get some units to market but I know it won't happen. It's almost like certain people are benefitting from the current real estate setup and don't want things to change.
darwink
Senior Member
Its expensive to intervene and takes time. Until the government is sure of a direction, the around the edges changes (housing accelerator) are all we will see beyond perhaps the CHMC interest rate subsidy for secured rentals and 80% rentals being increased.
It wasn't just "walkable" neighbourhoods that exploded in price in Toronto over the past few years. I think established postwar suburban neighbourhoods did even better: https://www.bramptonguardian.com/ne...cle_e4bf8dbc-be5d-541a-9692-3e9f7a4e4140.html
Calgary can and is building the heck out of developments like this. Witness the 14 new communities that were approved, and the SFH construction on the fringes of the city that hasn't let up.
I'm not saying this is a perfectly good thing, or sustainable, or that I personally like new suburban developments. But I think we're in a good position to meet demand for that part of the market in the medium term.
Calgary can and is building the heck out of developments like this. Witness the 14 new communities that were approved, and the SFH construction on the fringes of the city that hasn't let up.
I'm not saying this is a perfectly good thing, or sustainable, or that I personally like new suburban developments. But I think we're in a good position to meet demand for that part of the market in the medium term.
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zagox
Active Member
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On the one hand sales volume is strong and there are lots of reports of multiple offers
On the other hand, benchmark prices are only up ~4% year-on-year, so pretty much in line with inflation, no real price increase since early 2022
At some point with inventory low and sales strong, either prices will start to spike or sales will need to fall off? Doesn’t seem like much new supply is in the pipeline, housing starts have been decent but not enough to keep pace with demand
summerofgeorge
New Member
Long time listener first time caller! I was wondering what this forum thinks about Forest Lawn/International Avenue? I know the area is rough around the edges but considering its proximity to downtown and retail options, do you think it could develop into a neighbourhood like Marda Loop?