A recent report by PwC and the Urban Land Institute on emerging real estate trends has painted a promising picture of Calgary.
Calgary was named the top real estate market to watch in Canada for overall prospects in 2025, which considered a range of factors, including investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and more.
The rank was determined using data from personal interviews with over 450 individuals and survey responses from more than 1,600 industry experts.
PwC
According to the data, Calgary has the most opportunities for single-family and multi-family residences. The report also shared that despite the city having the fastest-growing residential construction costs of major Canadian real estate markets, rising rents, and sales prices have helped residents maintain their margins.
In addition to the potential for growth in the city, Calgary’s growing technology centre has diversified the economy in the area and encouraged population growth, which is expected to increase the city’s GDP by 2.5% in 2025.
Further supporting Calgary’s promising real estate trends has been funding allocated from the city that encourages developers to convert vacant office spaces into residential buildings. Under the $52.5 million funding announced in September, 11 conversion projects have been approved.
However, there are still concerns about the city’s real estate market.
Housing affordability is a nationwide issue that is expected to continue as demand increases. Since Alberta doesn’t have rent control, CMHC data predicts that average asking rents will rise 9.7% this year and 3.4% next year.