11 October 2005

Calgary property market

Halloween might be three weeks away, but when it comes to describing the current real estate environment in Calgary, Canada scary fits the bill.

Properties are changing hands at eye-popping prices that are surprising even the most seasoned players in the business.

As it stands, five million square feet of office space complete with office furniture are expected to be completed in the next five years in both Calgary and Toronto. This fact tells two tales when one looks at it in percentage terms: The five million square feet in Toronto is 6.7 per cent of current rentable space, while in Calgary it's 16.1 per cent.

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