By Altus Group | June 21, 2018

Calgary Flash Report 2018

Total investment property sales volumes in the Calgary Market Area increased in 2017, marking the highest annual volume since 2013.

Commercial investment & land market

  • Total investment volumes in the Calgary Market Area increased to $3.4 billion in 2017, the highest annual total since 2013.
  • Total investment property sales transactions in Calgary slowed in Q1 2018 – down 28% from Q1 2017.
  • High Density land posted the largest year-over-year increase in 2017 – more than quintupling to $128 million.
  • Timbercreek’s purchase of a 44 unit condominium titled apartment building for $10 million accounted for about one-third of the total apartment investment in the quarter.

Industrial & office markets

  • The industrial vacancy rate continues to ease down.
  • The Calgary office market continued to see significant new supply in the past year, despite high vacancy rates.
  • About three-quarters of the new supply completed in the past 12 months was in the Downtown area.

Residential development market

  • New multi-family home sales finally turn up.
  • At the end of Q1 2018 the approximately 2,700 unsold units in active new condominium apartment projects in the Calgary market area represented about 15 months of supply.
  • There were 23 condominium apartment projects launched in 2017, with a total of just over 1,600 units.


  • Renter homebuying intentions down from last year.
  • Many younger renters want to buy a home, but are still saving for a downpayment.
  • Being deep in the downtown action has appeal for a segment of Millenials but they are in the minority.
  • About 1 in 2 end user homebuyers in the Calgary Market Area in the past 5 years was a first-time buyer.
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