Having long provided an affordable entry into the housing market, Calgarians are again turning to the condo sector as a way to make their homebuying dreams a reality.
According to CREB®, sales in the apartment and townhouse sector recorded annual increases of 12 and 16 per cent, respectively, in 2012, despite a decline in listings.
A likely factor in the rising demand for Calgary condos is the lack of availability in the city rental market. According to the Canada Mortgage and Housing Corporation’s (CMHC) Fall Rental Market report for the city, the apartment vacancy rate in the Calgary CMA declined to 1.3 per cent in October 2012.
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