Did you Know?

• Calgary has over 31,000,000 sq ft of downtown office space. The average age of Calgary's office buildings is the youngest of any major Canadian city and therefore the most efficient, technically and environmentally.
• There is presently (Fall '05) over one million square feet (sf) of downtown office space under construction with several other major projects representing over three million sf being planned.
• The Industrial sector is booming with this year's one million square feet of construction increasing its industrial building inventory to over 100 million sq feet.
• The City and CED have established cutting edge tools to facilitate projects and their approvals through the City. Calgary also enjoys a unique advantage with the Uni-City concept. Unlike most jurisdictions with competing regions and towns in the metropolitan area, The City of Calgary (15 miles by 23 miles) is under a single governing authority with common land use and building permitting regulations and procedures. This is a major advantage as businesses can easily compare location options in Calgary.

Building Permits

Building Permits (The City of Calgary) Total building permits issued by The City of Calgary totaled $791.3 million for the third quarter of 2005, up from $631 million, the same time last year, or by 25 %.

Housing Starts CMA

housing starts took off, and ...

Housing starts shot up in the third quarter of 2005 from a year ago, likely a pick up from the slower activity in the first half of the year due to unusually wet conditions. Starts in Q3 2005 were up 18% to 3,982, strongly surpassing the 3,384 starts of Q3 2004.

Calgary MLS Residential House Sales

the resale market remained strong.

Combined residential units sold in the third quarter of 2005 reached 8,168 units, significantly higher than the 6,858 units sold the same time last year, or by 19 %, driven by continued low mortgage rates and strong consumer confidence. Average resale house prices increased to $247,828, up from $221,060 reached the same time last year, or by 12 %.

Office Real Estate Markets

The pace of activity in the downtown office market did not abate in Q3, resulting in the ninth consecutive quarter of increasing occupancy. Vacancy has declined to 3.8%. As the supply of "A" class space diminishes, many firms are selecting "B" quality space, as there are few other alternatives to remaining in the downtown core.

Industrial Real Estate Markets

The Calgary industrial market is still active, with a number of projects planned or underway, however, a constrained serviced industrial land supply is likely to bring about challenges in 2007.

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