A couple members of the Citysearch team attended the recent Calgary Real Estate Forum, the sectors largest annual event that brings together our city’s real estate professionals to discuss current business and market conditions.
Energy prices were on the top of everyone’s mind, with some excellent and informative presentations from Tod Hirsch, Chief Economist at ATB Financial, Helima Croft, Global Head of Commodity Strategy at RBC Capital Markets, and many other notable members of Calgary’s real estate sales, leasing, and development community.
Many of the presentations placed WTI and Brent forecasts surpassing the $60.00 a barrel mark by the second quarter of 2016 – a financial mark where the Canadian energy sector will be sitting more comfortably than in the range we have averaged throughout 2015. This is very good news projected on the horizon for our city and the real estate sector!
Private landlords, such as our clients at Citysearch still hold the majority share of the residential rental marketplace within the city. Calgary has some of the lowest purpose-built apartment inventory of all major census metropolitan areas in Canada. National land developers and real estate trusts continue to move forward with their plans to invest in the Calgary rental marketplace, with their eyes confidentially on the mid-to-long term economic potential of our city.
Citysearch is continuously looking for new properties for our management portfolio. If you’d like to speak with us about one of your current or upcoming vacancies, please contact us today!