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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