The Alberta Real Estate Group Inc has proudly launched it's new site which features Alberta real estate for sale on the most powerful IDX search platform today. Below is an article about what drives the price of new home's in Alberta higher.
The Price of new homes in Alberta has been rising over the
last few months. The city of Calgary have been witnessing a sharp increase in
the price of real estate with more people willing to relocate and choosing to
build up their families in Calgary. The city of Calgary has been seeing a boom
in the oil & gas sector which has prompted many people to move here. Let’s
look at the main reasons behind the rise of new homes in Calgary.
Higher Affordability: New
homes are more affordable than before, it has become easier to possess a new
home with low mortgage rates and easy documentation.
High Rents:
With
rents being at an all-time high, more and more people are buying new homes as a
form of investment so that they can rent out their properties and earn a decent
income from their properties in the form of rent. Since more people are looking
towards living in Calgary the increase in demand for rental properties as well
as new homes will lead to an increase in the price of new homes.
High Demand:
Whenever
demand is higher than the supply prices will increase. Calgary has been featured
on the list of the best cities to live in Canada which is a clear indicator
that more people want to live in Calgary. The city is seeing a boom in the oil
& gas sector which has prompted many people to move to Calgary to look for
better employment options. With a large number of people choosing to live and
raise their families here the demand for new homes have gone up thereby pushing
up the prices.
Low
Distresses sales: There has been a decrease in the number of
distresses sales such as foreclosures over the last few months which have led
to the rise in prices of new homes.
Richard Conover Realtor | Real Estate Professionals Inc.
403-540-6869
richard@calgarycondos.org
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