Dec. 23, 2014 | Cody Stuart
Calgary's tight rental market, combined with low mortgage rates and relative affordability, supported record growth in the city's resale condominium sector in 2014.
Combined condo (apartment and townhome) sales up to the end of November increased 19 per cent to 8,105 units, compared with 6,782 units during the same period the year prior, according to CREB®.
The all-time sales record for condo sales was set in 2006, when 8,390 homes changed hands.
"In addition to lifestyle preferences, condominiums appeal to those looking for more affordable ownership options," said CREB® chief economist Ann-Marie Lurie, who originally forecasted 7,641 combined condo sales in 2014.