The Western Investor reports on the selling success of PARK POINT.
Front Page: Bold bulls brave Calgary’s wounded real estate market
calgary’s condominium sector has taken the hardest hit in a housing market gutted by the plunge in oil prices. Condo sales in the city are down 17 per cent through the first quarter of this year compared with a year ago and average prices have plunged 12 per cent from the 2014 peak to around $290,000. Meanwhile, nearly a fifth of Calgary’s downtown office towers have gone dark, condo starts have fallen 60 per cent and residential foreclosures have soared.
Total commercial real estate investments in the city plunged $1.1 billion from 2014 to 2015, according to research by Barclay Street Real Estate, which tallied total dollar volume last year at $1.5 billion.
Read the full article online at westerninvestor.com
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