Calgary Among Alberta’s Best Communities in which to Invest
in Residential Real Estate
Ranked among top 5 of 31 towns/cities by REIN™ for six straight years
Nov. 14, 2003
Calgary Real Estate News
Calgary is consistently one of the best cities or towns in Alberta in which to invest in residential real estate, according to a new province-wide study by the Real Estate Investment Network or REIN™.
Calgary finished fourth this year in REIN’s 7th-annual study of 31 Alberta cities and towns in terms of their residential real estate’s return-on-investment potential. Calgary was fifth in 2002 and 2001, second in 2000, and first in 1999 and 1998 in similar REIN™ studies.
“In 2002, Calgary real estate entered the predicted ‘plateau,’ where values and rents did not keep pace and vacancies blipped up,” says REIN’s latest report. “We are now witnessing the city exiting this first plateau, and will start to see values once again start on their upward pace.”
The 37-page REIN™ report adds: “Calgary’s corporate head offices are just a small portion of the city’s booming economy. The city has become a center for a diverse cross-section of major businesses, including high-tech, transportation, manufacturing, tourism and, of course, oil and gas companies . . . the growth of Calgary as a business center will continue long into the next decade.”
Finishing ahead of Calgary in the REIN™ report’s list of the top 10 Alberta communities in which to invest in residential real estate was Edmonton in first place, followed by Devon and Sylvan Lake. Trailing Calgary (in descending order) was Red Deer/Okotoks (tied for fifth place), Lacombe/High River (tied for sixth), Cochrane, Grande Prairie, St. Albert and Fort McMurray.
Simply knowing the names of the top-ranking communities isn’t enough to guarantee success if you invest in real estate there, the REIN™ report warns: “The key is to discover what types of real estate to invest in to achieve your specific goals, and what critical due diligence you must complete before you invest.”
“Since 1984, we have been studying the economic and demographic affects on the real estate in cities and towns across Canada,” said REIN™ President Don R. Campbell. “We have boiled all of the numbers down to three critical indicators called the ‘Booming Statistics.’ These three indicators, and their proper use, are described in detail in REIN’s Real Estate ACRE System Program. Over the years, we have used these indicators to discover the best towns to invest in for maximum return on investment.”
To produce the “Top 10 Alberta Towns to Invest In” report each year, REIN™ researchers compile data from a variety of respected sources including the Alberta government, Canada Mortgage and Housing Corporation, Statistics Canada, Conference Board of Canada, Alberta Real Estate Council, and representatives of specific municipalities. Researchers also do extensive fieldwork – traveling to 31 Alberta communities this year to interview local officials, assess local economies, inspect local housing inventory, etc.
To contact REIN™ President Donald Campbell, call 1-888-824-7436. For more information about REIN™, go towww.albertarein.com.
