Calgary’s commercial real estate market is booming. There were 104 commercial sales in Calgary that totalled $1 million or more during the second quarter leading up to total sales of $1.36 billion, according to a report released by RealNet Canada, Inc.
The market also set a new record with several transactions that totalled $50 million or more. A total of 88 such deals have been made in Calgary since 1998.
Investments in Calgary have increased by 47% from the last quarter, with deal velocity also enjoying a 14% increase. In particular, office and retail properties accounted for 77% of the overall commercial sales in Calgary in the second quarter of 2012.
This news will likely be a boon for commercial investors, as these figures show that Calgary’s market is leaning more towards buyers than sellers. Investors wanting to expand their commercial portfolios will find that Calgary is ripe for investment and that the time to buy is now.
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