Hike in Calgary new condo apartment sales
9% increase from last year
By Mario Toneguzzi, Calgary Herald August 19, 2013 2:02 PM
CALGARY — Although condominium apartment starts were down in the first half of this year, sales of new units in Calgary improved slightly, likely boosted by low inventories in the resale market, says a report by the Altus Group.
The report said sales reached 1,939 units from January to June in Calgary, up from 1,776 for the same period the year before.
There were also 4,117 new condo apartments under construction compared with 4,427 last year.
The report said 327 condo apartments in Calgary have been completed but are not absorbed as of the end of June, up from 299 a year ago.
According to Altus Group, starts for the first half of the year are 957, down from 2,467 for the same period in 2012.
The report is forecasting condo apartment starts to finish the year in Calgary at 3,600, down from 4,000 last year, but rebound to 3,900 in 2014.
Read the complete story by clicking here.