More and More People Are Looking at Condos in Calgary

Posted by Justin Havre on Thursday, July 4th, 2013 at 8:01am.

In the upcoming years more and more people in the Calgary area will be looking at  condo ownership. This is according to a new report by the Bank of Montréal that looked at the types of properties that people were interested in purchasing in the coming 5 years. The poll was done by Pollara and took place in 4 cities across Canada.

The cities where the surveys ran included:

  • Toronto
  • Calgary
  • Montréal
  • Vancouver
The poll showed that the interest shown by potential homebuyers in Calgary for purchasing a condo had gone up 8 points to 33% from the numbers shown in the fall, which were sitting at 25%. At the same time, the intention to purchase a regular home has fallen from 71% during the fall to 58% now.

In Montréal, things are quite a bit different. The numbers show that 24% of potential buyers will be looking at condos, which has fallen 3 points. At the same time, the interest in a house has gone up 16 points to 62% from 46% last fall.

In Toronto numbers went up 11 points for a condo to 31% while in Vancouver the interest in condos has gone down five points to 28%.

The average price for a condo apartment in Calgary has gone up to $297,530, which is a rise of 6.91% when compared to last year. So far in 2013 there have been 2,034 condos sold from the listings which is an increase of 9.53% when compared to last year's figures during the same time frame.

Condo ownership is looking like a great option to more people here in Calgary and Toronto while less people are looking for a condo in Vancouver and Montréal. It will be interesting to see what the next poll shows and whether the same figures hold true in the upcoming future.

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