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Reasons for Rising Demand of Alberta Real Estate

Aug 17, 2007
There has emerged a real estate boom in Alberta in recent times. The major cities of Alberta like Edmonton and Calgary are each now being perceived as a 'safe paradise'. There are certain reasons for this boom that is actually getting bigger year after year.

The economy of Alberta is continuing to lead the country by a large margin. This has led to attracting new businesses and opening up of worthy job opportunities which is drawing in new population- thousands of people every month who are seeking to live and work in the province. The need to 'stay' or 'reside' to work has called forth the increased real estate demand.

The Alberta government is focused towards keeping business and personal taxes the lowest in Canada (Alberta is being referred to as the 'Tax Haven of North America' and is attacking the deficit. Thus Alberta's economy is leading the path in the whole continent of North America. The 'Alberta Trusts' being developed by many individuals and corporations as shelters for their assets and incomes is also pouring cash into the province and further helping to drive the economic engine.

The Alberta Advantage encompasses dynamism, growth orientation and an infrastructure and capital base worthy of envy. This has engendered the real estate boom which is primarily focused on the cities of Edmonton and Red Deer.

The reasons behind continuous real estate demand rise in Alberta can be summed up thus-

- Prices in cities here are low in comparison to cities of similar size in US, Europe and Canada.

- With the growth of Alberta's economy surpassing that of most other provinces more international investment is being attracted and people who have to rent or purchase real estate are being drawn in large numbers.

- Alberta has the highest average income in Canada thus making the affordability very high and increasing demand for real estate in the province.

- Having the lowest corporate and personal taxes in Canada and having no provincial sales tax the Alberta province is drawing in more and more investment and alongside work opportunities. The need for residing in the province especially in the important cities has thus increased leading to a rise in demand for real estate.

- Alberta has no rent control thus allowing under valued buildings to fetch market rents in three months time thus making real estate property a lucrative investment.

- The young population that spends more on new houses is also the highest in Alberta (in respect of Canada).
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Jason Uvios writes about on Reasons for Rising Demand of Alberta Real Estate to visit :- real estate edmonton alberta , alberta modular homes and canada alberta affordable housing program
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