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WHY NOW IS THE TIME TO INVEST
IN A LUXURY CONDO


Timing matters and the best time is now to get into Calgary’s condo market. This is based on two very important factors. Calgary has an aging population and there is a lack of larger condominiums available in Calgary. Yes, Calgary has welcomed many new condo developments but most suites are under 1000 sq ft. This might surprise you but there are currently only 17 suites available that are 2000-2500 sq ft in the entire city.

Like many countries, Calgary is experiencing the overall aging of its population. There are currently 133,960 Calgarians aged 65 years and older. This number is expected to double to 225,000 in 20 years.  Adding the most pressure is the baby boomer generation, those born between 1946 and 1965. This supports a recent finding where luxury detached homes in most markets across the country. “Somewhat unusual in historical terms, and reflecting an important demographic shift happening across North America, appreciation in the condominium market is outpacing the traditional target for larger value residential property investment, the detached house” said Phil Sopher, President and CEO of Royal LePage.

If you are a baby boomer and have been thinking of downsizing here’s what some are doing as they prepare for their senior years. “We have a number of buyers who have bought a condo for retirement and are renting it out until they are ready to make the move. They just want are ready to move out of the large family home and into a more lock and go lifestyle” said Grant Murray, Senior Vice President, Sales at Concord Pacific. The Concord is Calgary’s newest luxury riverfront condo development located in Eau Claire.

Did You Know - Condominium
Rowena-Chan-Concord Pacific
Rachelle-Starnes-Eau Claire
Emma-May- Charles