Calgary's New Condo Market Booming

Calgary’s new condo market boosts in 2013 with sales up by 30 per cent from the previous year and coming close to the peak of 2005 when prices were a lot less for a property, particularly in inner-city neighbourhoods.

A report by the Altus Group Limited says sales in the city reached 5,400 last year for new townhouse and apartment units. At its peak almost a decade ago, sales in the market hit 5,900.

Calvin Buss, president of Buss Marketing in Calgary, said the city’s condo boom is being fuelled by a strong economy, strong growth in employment and in-migration as well as a very low rental vacancy rate.

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