“Albeit a significant slowdown in overall investment volumes, deals continue to get done in the Greater Calgary commercial real estate market,” noted Paul Richter, Research Director, Altus Group. “While trading of higher valued assets slowed, real estate transactions remained active throughout 2015.”
On the upside was the apartments sector, up 12 per cent year-over-year; and the land sector was also strong in the year, with ICI land maintaining its pace while residential land fell earlier in the year before rebounding in the fourth quarter.
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There was a 34 per cent drop in dollar volume of commercial real estate investments in the Calgary region in 2015. The figure is revealed in the latest market report from Altus Group which says that 4 of the 7 asset classes saw declining investment of between 25 to 35 per cent; although the offices sector slumped 69 per cent from 2014.