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Residential real estate: Alberta on an economic upswing

Albertans are feeling positive about the future. There are many things that fuel increases in residential real estate sales and one of them is a positive economic outlook. For many in Alberta, particularly in Cow Town, growth in many sectors is reason for celebration. Analysts say the next five years are looking bright for infrastructure in general and for the real estate industry, in particular. 

Although the economy is slow in recovering, it is expected to continue to be on the upswing through 2024. Much of that is due to the expected and continued increase of Alberta crude oil prices. Also, investment in residential builds is expected to outpace nonresidential in the next five years. The Calgary area is expected to generate nearly $9 million in investment within the next few years.

With many baby boomers retiring, job growth also looks promising, especially for those between the ages of 35 and 44. With an expected population increase in all of Alberta, continued economic recovery is imminent. The province has been working to attract investment to continue to boost the economy.

With analysts saying the future looks bright, some Alberta residents may be thinking of buying or selling residential real estate. Having a lawyer on side can help both buyers and sellers to close deals with assurance. A lawyer plays an integral part of real estate transactions ensuring all contracts adhere to the letter of the law. As well, a lawyer's assistance in such things as checking title, and ensuring there are no liens against the property are crucial.

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