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June 2019 Archives

The good news, bad news of commercial real estate in Canada

There are always two sides to a coin. The same can be said for commercial real estate in Canada -- the good news and the no so good news, according to a well-known real estate forecaster. On a positive note, the office sector across most parts of the country has been rallying -- with the exception of Alberta's two major cities -- which continue to have high corporate vacancy rates, but the economy is expected to stabilize.

Some office buildings turned into residential real estate units

Some landlords are stepping up to the plate to try to help the economy in Wild Rose Country. Some property owners in Alberta are taking commercial properties like office buildings and turning them into residential real estate units -- particularly in the Calgary area. When agencies or companies leave these buildings, some landlords are opting to shell out big bucks to refurbish them into apartment or condo units. It's a way landlords are getting through the rough spots of a sickly oil industry which affects all areas of the economy.

Residential real estate: Canmore leading the way in Alberta

There is one municipality in Wild Rose Country to which people are turning for rest, relaxation and recreation. Residential real estate sales in Canmore have continued on an upswing despite the recent downturn in overall provincial sales. When it comes to recreational home sales, Canmore is leading the pack. Recent statistics show that the average price of a home in Alberta is expected to rise to more than $838,000 -- an increase of more than 10% and that hike is largely attributed to expected sales in the mountain community.

Real estate transactions: How much downpayment is enough?

Having a minimum downpayment to buy a home is necessary. But, would it benefit Alberta residents in their real estate transactions to have as much saved as possible when purchasing property? More importantly, should people postpone buying until they have as much saved as possible? There are financial considerations for buying sooner and for buying later and much has to do with saving for eventual retirement.

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