Calgary Property Market and Real Estate Guide

(Calgary, Alberta - AB, Canada)

The major Canadian city of Calgary lies in Alberta Province, between the foothills of the Rocky Mountains and the vast Canadian plains. In recent years its economic focus has diversified from oil to include tourism and high-tech manufacturing. With its dry climate, cosmopolitan ambiance, cultural events, winter sports and eco-tourism centres, Calgary is a great place to live.

The city's residential suburbs are divided into four sectors: Southwest, Southeast, Northwest and Northeast, with excellent public transport making commuting straightforward. Downtown properties are becoming popular, with cultural and nightlife amenities developing as a result. Prices vary between districts, with Northeast homes at present the most affordable.

Renting Serviced Apartments

A number of upscale serviced apartments as a cost-effective alternative to hotels are available in Calgary. Quality amenities include individual design, high-speed internet, fitness equipment and free international phone calls. Most charge a deposit of up to half the monthly rate, with a 14-day cancellation policy applicable to non-arrivals and early departures.

The majority of upscale serviced apartments are found in the city centre, with economy rentals near the university. Several international hotel chains have mid-range serviced suites for rent in the Northeast, Southwest and airport districts. Occupancy rates for all types of serviced apartments are generally high.

Buying Apartments and Houses

There are no restrictions on foreigner purchase of property in Canada. Calgary offers a wide range of studio and larger apartments and houses at prices from affordable to high, dependent on district and accommodation. Southwest Calgary has a range of properties from starter homes to luxury mansions in sought-after communities near the city centre, and has the highest average prices in the city.

The Southeast's lakeside communities are popular, and include a number of new developments. Recently improved infrastructure has brought with it a significant increase in property prices. The redeveloped Northwest's inner city area is within walking distance of downtown and an hour's journey from the mountains. Calgary's Northeast is a growth area, with its affordable properties, new business developments and improved road and rail connections.

When buying a home, due diligence and legal advice is essential. If buying a condo, make sure exactly what is included in the monthly maintenance fee, and check the amount of property tax due. Ask to see a Document Review relating to the building's reserve 25-year maintenance fund. A home inspection is also a sensible idea.

Closing costs should be taken into account, with fees and disbursements varying according to the property. Legal fees vary little, but survey and appraisal costs are fixed by the service provider according to the square footage of the property. Watch out for big increases in property taxes in areas of the city with recent major infrastructure upgrades, and for sales tax levies on new homes.

Real Estate Agents

There is a huge choice of over 5,000 estate agents in Calgary, with a number specialising in apartments and condos in all areas.

Check out the following Calgary real estate agents:

Century 21 The Professionals Ltd
Address: 1, 4600 Crowchild Trail N.W. Calgary, AB, T3A 2L6, Canada
Tel: +1 403 509 2121
Email: sharon@century21thepros.com
Website: www.century21thepros.com
One of several Century 21 offices in Calgary with an informative and comprehensive website.

Rob Johnstone Real Estate
Address: 222, 4625 Varsity Drive N.W. Calgary, AB, T3A 0Z9, Canada
Tel: +1 403 247 5171
Email: contact@CalgaryHomePros.com
Website: www.calgaryhomepros.com
This excellent Calgary estate agent has a helpful website with good details on Calgary properties for rent and sale.

Maxwell Capital Realty
Address: 114, 3604 52 Ave. N.W. Calgary, AB, T2L 1V9, Canada
Tel: +1 403 282 7770
Email: capital@maxwellrealty.ca
Website: www.maxwellcapitalcalgary.com
One of several Maxwell Realty offices in Calgary offering assistance in finding the perfect Calgary home.