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www.canadianrealestatemagazine.ca

Alberta Real Estate Remains Solid With Edmonton Booming

Latest trends in Alberta's real estate market and review of the diverging paths of Calgary and Edmonton.
www.canadianrealestatemagazine.ca www.canadianrealestatemagazine.ca
 
Indeed, but most markets are so deep into condos that this is causing some real issues.
 
Oilers99 said:
should really keep pushing those infill condo tower projects...
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The purpose built apartment market is doing perfectly fine downtown. The two most expensive options are essentially fully leased (JW & Stantec). A 3rd tower next door would lease up within a year.

The obstacle right now is the cost of land being propped up by parking lot owners unfairly being taxed much less than an identical lot next door that just happens to be doing actual productive business.
 
Another factor -- comparing Edmonton and Calgary -- is that Edmonton is more of a blue-collar City (wealthy just the same) where the population is more inclined to have a detached house with a yard and a garage where they can be more "hands-on" with their hobbies and outside interests. Condominiums may have less appeal to this cohort of the population (vive la différence). This is just one of a large number of determinate Economic Factors that play into choices relative to development and where development companies will look to put their money.
 
archited said:
Another factor -- comparing Edmonton and Calgary -- is that Edmonton is more of a blue-collar City (wealthy just the same) where the population is more inclined to have a detached house I yard and a garage where they can be more "hands-on" with their hobbies and outside interests. Condominiums may have less appeal to this cohort of the population (vive la différence). This is just one of a large number of determinate Economic Factors that play into choices relative to development and where development companies will look to put their money.
Click to expand...
I know I harp on this point alot, but modern condos are also just too damn small with limited storage space. Its very hard to host/have gatherings or have hobbies with lots of stuff like Skiing, Camping, Sewing, etc in the majority of modern condos. A 700 sqft condo works in a city where you spend most of your time out of your home and have hobbies around town, but is hard to do in a city like ours. If you camp, shop at costco, and like to have family over then a condo doesn't really work. Let alone if you plan to expand your family! I get why developers like to maximize the number of units per floor, but it doesn't really make for a livable option for most people. And even for those that can make it work, there is no space to grow so its hard to justify the investment vs renting.
 
Barnaby said:
The purpose built apartment market is doing perfectly fine downtown. The two most expensive options are essentially fully leased (JW & Stantec). A 3rd tower next door would lease up within a year.

The obstacle right now is the cost of land being propped up by parking lot owners unfairly being taxed much less than an identical lot next door that just happens to be doing actual productive business.
Click to expand...
i said condo not purpose built rental
 
JuliallThat said:
It's just really hard to justify a condo when a house is so affordable. Either condos would need to be cheaper, or houses have to get more expensive.
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Yes and/or, the urban experience needs to vastly improve. Many folks choose a smaller place because of the richness of walkable amenities, parks, green spaces, cool coffee shops, etc., but when that is undermined by crime, chaos, disorder, fear, perception, partially cleaned up demolitions, empty blocks of vinyl covered windows...

Improve the experience, drive demand.
 
IanO said:
Yes and/or, the urban experience needs to vastly improve. Many folks choose a smaller place because of the richness of walkable amenities, parks, green spaces, cool coffee shops, etc., but when that is undermined by crime, chaos, disorder, fear, perception, partially cleaned up demolitions, empty blocks of vinyl covered windows...

Improve the experience, drive demand.
Click to expand...

I agree with this - the tradeoff for a house with a yard has to be more convenience and quality experiences. I also would love to see some way for costs of growth in suburbs to be more reflective of the true costs. When cities analyze costs of different types of growth, the results are clear - the less dense and more car dependent a new neighbourhood is, the more subsidized it is by a city. But that's not reflective in the cost to buy, rent or in property taxes.
 
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