Wednesday, 5 February 2014

Calgary: A Rising Star in Urban Real Estate

One of the many things that can make a city prosperous is its rate of urban development; it could rake in major commercial real estate investors and residential buyers alike. If you are one of these people, you might find it great news to know that Calgary has been ranked as having one of the most number of high-rise and skyscraper projects in North America today.

Real estate data giant Emporis recently unveiled its list of the cities with the highest rate of urban development when it comes to high-rise buildings. Not only did Calgary rank fifth with 22 projects, but the top spot itself was nabbed by Toronto, with an impressive total of 130 projects. Other Canadian cities that made it to the Top 10 include Montreal (25) and Vancouver (23).

Essentially, Emporis said that its list was based on a particular definition of high-rise buildings as at least 35 metres high or, if the measurement is unknown, anywhere from 12 to 39 floors. Moreover, skyscrapers are those that range around 100 meters or more, or at least 40 floors.

As the majority of these buildings are residential, prospective home buyers in Calgary will have a lot of options for condominium units. There are also many prospective investors who want to buy out units for rentals.

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