British Columbia has seen its share of real estate deals from Wild Rose Country residents. But if Canmore has any say in the matter, more Alberta residents will stay in their home province to ink real estate transactions. With B.C.'s speculation tax that penalizes nonresident buyers, Albertans may look to their own province to purchase seasonal real estate. The resort town may look more appealing than ever.
A prominent Canadian company is looking at setting up cannabis lounges in its western outlets. These potential real estate transactions in Alberta give a new meaning to having a mellow cup of Joe. The company hopes to team up with National Access Cannabis Corp. (NAC) to roll out the plan where it's legal to do so. NAC has basically been focusing on the medical marijuana industry so far, but this would give it an inroad to the retail market.
Many people are beginning to become more energy conscious and it's actually showing up in where they're choosing to live. Walkable real estate transactions in Alberta are on the rise. It seems some homeowners don't want to take their vehicles to work and choose to walk to their jobs. Another thing prospective homeowners are looking for is closeness to various shops and venues -- for the very same reason. They don't want to drive.
A recent survey regarding the housing market shows that investors from China may be cooling off on the housing market. The survey indicates that real estate transactions in Canada made by Chinese citizens are starting to slow down and it could be because of new regulations regarding foreign investment. Apparently, it's not because these investors want to stop making acquisitions, but because deals are hard to come by.
The technological age is here without a doubt. Bitcoin is digital currency that uses encryption to regulate and generate currency units and to verify transfer of funds. An office building in Calgary is earmarked to be the first in Alberta to accept this type of currency for payment of rental space. If this any indication, cyptocurrency may be used in the near future for other types of real estate transactions as well.
On the eve of legalization of recreational marijuana in Canada, landlords of retail space are preparing for an onslaught of potential business. Commercial real estate transactions in Alberta are expected to go through the roof as entrepreneurs prepare for the sale of cannabis in retail spaces. Despite the rules surrounding weed sales in Alberta not being defined as of yet (although it has been decided that the private sector in the province will be overseeing over-the-counter sales), some people are securing retail space without knowing if they'll even get permits to sell the herb.
With the advent of legal marijuana on the horizon, a few Albertans are thinking about cannabis-friendly buildings. It will make some real estate transactions interesting. Canada is set to legalize pot this summer, and some building owners who already use marijuana are thinking about allowing their tenants to smoke weed in their buildings -- and going a step further and actually seeking tenants who are cannabis users.
Investors are starting to feel good again about putting their money into housing construction in Wild Rose Country. Year-over-year spending in the house construction sector of real estate transactions in Alberta rose for the first time last year since 2015. Even though the numbers are rising, they're not quite where they should be -- slightly better than 2015's recessionary levels -- according to a market analyst. Still, the market is rallying and that is good news for investors.
Investing in property can be a very wise move financially. But when getting involved in these kinds of real estate transactions in Canada, a potential investor would do well to do some research before diving in head first. For a first time foray into the world of real estate investing, going small at first might be prudent.
Many land title searches are done of on the internet these days. So, when real estate transactions in Alberta were shaken up by problems with the province's land titles site that results in it being off line for days, it made for some very disgruntled purchasers. Many of those people have lost hundreds of dollars because of the glitch on the site that is used to finalize real estate deals.