Calgary housing market draws people from other provinces: report

By: 600011 On: Feb 8, 2024, 2:04 PM


Real estate company Re/Max Canada reports that home buying is active in Calgary. The report points out that the city's affordable housing value and low tax rate are the reasons for the active home buying. This trend has attracted people from other provinces to Calgary. People began to flock to Alberta, mainly from British Columbia and Ontario, where housing costs were high.

But real estate experts and economists point out that this migration has driven up house prices in Calgary. They suggest that this may not lead to rates as high as in other big cities.

About 45,000 new immigrants arrived in Alberta in the first quarter of 2023, according to data from Statistics Canada. During the same period, net international migration increased by nearly 100,000, including new immigrants, net immigration, and net non-permanent residents. According to Re/Max, people from Ontario and BC are active in the Alberta housing market.