Foreign buyers eye luxury homes in Alberta

Prices in Alberta may have been hit in the past 18 months due to the drop in oil prices but that has fuelled interest in the province’s luxury housing market from international buyers.

Realtors at Engel and Volkers report a surge in inquiries from foreign buyers with Chinese investors particularly keen. “I’d say around seventy per cent of inquiries through our website and by phone are currently out of country buyers,” agent Mark Evernden told the Globe and Mail.

The demand is also strong at Sotheby’s International which has seen more calls from overseas buyers.

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