I just took a look at an article that puts Calgary as the third wealthiest metropolitan area on the planet, aside from Paris, France, and San Francisco. I was really a little bit shocked with this, due to the fact that there exist numerous even bigger, and purportedly a lot wealthier, cities that I believed should be on the list in front of Calgary. However, it appears sensible the moment you take a look at the latest statistics on economic growth, the energy market sector, and among the more conventional evidence of economic health – the Calgary luxury real estate property market.
Only in the near past, one particular apartment in a newer Mission-area development ended up being sold for $9 Million. It made history for being the most expensive condominium ever in Calgary, and elevated at least many eyebrows at the same time. That shouldn’t have been so much of a unexpected surprise when you consider that there are actually very large custom houses continually being sold for anywhere up to approximately $11 million Canadian dollars around the Calgary zone, making myself to ask the question if that is usual among other places throughout the world. Apparently not. During the midst of the recession – or more accurately a depression – for almost this entire planet, Canada and Calgary particularly, looks like it’s managing relatively good for itself.
For this reason, there are now quite a few upscale real estate providers and websites showing up in the municipality. One of the most suitable illustrations of this is Calgary Luxury Portfolio. It aims expressly on houses and condos of the over one million dollar assortment. Even though some might argue that it omits a major portion in the market, it’s wise to articulate that there’s an excellent, and expanding, marketplace demand for services exactly like it.
Despite the fact that I’m still certainly not 100 % positive how Calgary is apparently flourishing the success whereas a lot of other cities of the earth scramble in order to stay in the black, there genuinely does appear to be a whole lot of proof this is obviously the case. One brief look at the Calgary Luxury Portfolio website turns up hundreds of properties which have recently been re-developed to be able to be offered for the luxury buyer’s current market, with an active listing amount of anywhere as high as $12 Million Canadian.
Of course, the best marker of real estate is the total that the buyer is willing to pay on a house or condo. Thus, in the event that a person isn’t inclined to spend that amount, the listing price is not really genuinely how much it’s valued at. Subsequently it will remain to be seen just what all these higher end houses would eventually be sold for. But while many want to know if Calgary will soon get inflated real estate price tags such as some of those seen in places like Toronto or New York City, I’m only pondering just how the city isn’t there presently considering the plethora of wealth?