Here’s Calgary’s 2023 Real Estate Investment Outlook

Looking to build a new home? Calgary might just be the best bet right now, as even with elevated interest rates, overall conditions in Calgary make it one of the most enticing places in Canada to settle down to build a life.

It’s hard not to be a cheerleader for this southern Alberta city right now, as every indicator points to Calgary withstanding the economic headwinds expected everywhere else in Canada in 2023.

“Calgary missed out in the previous years when oil and gas prices crashed, and everyone else was enjoying booming growth. But now the situation is reversed, and Calgary is poised to make up for lost time,” says Vesta Properties Sales Manager, AJ van der Linden.

Many are already beginning to take notice. Ranked third most livable city in the world last year by the Economic Intelligence Unit (EIU), migration to Calgary has since skyrocketed, as many are now wanting to find out why.

Calgary’s GDP growth has also been stellar, topping the country in 2021, according to the Calgary Economic Development (CED). It has been on an upward trajectory since a -7.6 per cent drop in 2020, climbing to 6.3 per cent in 2021, and 6.6 per cent in 2022.

The City of Calgary paints a very optimistic forecast for the city in its Economic Outlook 2022-2027. It says a robust energy sector role moving towards cleaner energy is expected to help drive local and regional growth as the price of oil and natural gas remain strong enough through the forecast period to attract capital investment.

Calgary’s population rose by 22,200 people from April 2021 to April 2022, the report adds, and is expected to increase by over 88,000 between 2022 and 2026. That strong population growth and job growth are expected to bring the unemployment rate down, drive business creation, and boost consumption.

What is attracting the majority of the newcomers is the relative affordability of housing in Alberta, van der Linden says.

Zoocasa Realty ranked Calgary as having the most affordable housing among all major cities studied in North America. Calgary is well ahead of Toronto, Vancouver, and Montreal for home price attainability and overall lower cost of living.

Along with this affordability, Calgary’s stable infrastructure, top schools, friendly people, and overall quality of life, Calgarians enjoy an enviable lifestyle. “There’s nowhere else right now that’s better place to find a life and raise a family,” van der Linden says.

“It’s close to the mountains for a weekend hiking or skiing trip, it’s the sunniest city in Canada averaging more than 300 days of sunny days in a year,” he adds. “And there are many communities here that offer a balanced, affordable lifestyle.” Among those are Vesta Properties hit communities of Copperstone in southeast Calgary and Southpoint in Airdrie.

Vesta Properties is a big believer in Calgary’s growth potential – and has been for over a decade since it began building the Williamstown community in Airdrie, just north of Calgary. Since then, it has brought several other communities to life – always with an eye on affordability and an elevated shared lifestyle.

Vesta is both the land developer and exclusive home builder in the communities of Copperstone in southeast Calgary, and in Southpoint in Airdrie. “Both are young, dynamic communities that are surrounded by amenities. They are located in well-established parts of their respective cities and have attracted a very diverse range of buyers – be they young singles and couples looking for their first home, or families looking for a community they can set roots in, or downsizers and retirees looking for a home where they can age in place.”

Copperstone is the last piece of developable land in the well-established community of Copperfield in Calgary’s southeast. “Copperstone completes the last piece of the puzzle in this community, which is already very well developed with schools, parks, pathways and thriving commercial areas,” Van der Linden says.

“It is the last chance to own a new home in this part of town,” and he points out that buyers can now purchase Townhomes to move in by Summer 2023 and Single Family Homes with legal income suite options ready for possession by Spring 2023!

“The two- and three-bedroom townhomes here come with double car garages, and they are just across the road from a new elementary school, a wide open green space and a new playground. We also have new single-family home models here including single front attached garage homes that have become very popular,” van der Linden says.

Also available are Single Family and Duplex homes in Southpoint. It is the ideal community in Airdrie to raise a family with over 12 acres of green space including a tennis and basketball court, children’s playground, BBQ area, and a new school and dog park at your doorstep.

A new phase is scheduled to open in Southpoint with more home style offerings than ever before. “We really strive to include all types of homes that will fit all budget and lifestyle needs,” van der Linden says. “And that goes for all the communities we build.”

For more information on Southpoint, go to www.vestasouthpoint.com. Copperstone show homes can be found at 1233 Copperfield Blvd. SE, or go to www.copperstoneliving.com.