Almost $1.3 billion of capital was invested in real estate with a minimum sale price of $1 million in Calgary, Alberta in the second quarter of 2007.
July 31, 2007 (Press Release) --
Calgary, Alberta, Canada – July 26th, 2007 – Total sales activity for the Apartment, Hotel, Industrial, Office, ICI Land, Residential Land and Retail sectors combined increased by 9.7% from the previous quarter and 69.3% from the same time period a year ago.
Significant quarter-over-quarter gains were noted in the Retail, Industrial and ICI Land sectors, while Office, Residential Land and Apartments saw decreases, although demand in all sectors remains buoyant. The Industrial sector set a record quarterly sales result of $173 million and the Retail sector saw the second highest quarterly result of $332 million.
“Investors are in a race to acquire assets in Canada’s fastest growing province, at the same time users who want to own are faced with challenges in acquiring premises to carry on their business enterprises ”, noted George Carras, President, RealNet Canada Inc.
Regionally, Southwest Calgary dominated the sales picture in the second quarter of 2007. Southwest’s $628 million in sales accounted for 48% of all sales. The Southeast sector tallied $371 million in sales for a 29% share of the total.
“Multiple bid scenarios have been commonplace for investment-grade assets driving values higher and capitalization rates down in Calgary”, added Carras.
RealNet Canada Inc.’s Q2 2007 Commercial Sales Survey was based on the company’s GTA service, which provides extensive details on property and land sales with a minimum sale of $1 Million.
About RealNet Canada Inc.
RealNet Canada Inc. is the leading real estate information services company in Canada. Founded in 1995, The Company’s core information product provides coverage in both the commercial real estate investment and residential development markets, powering the decisions of firms involved in approximately 70% of the market activity.
For additional information, please contact:
George M. Carras, P.Eng.
President, RealNet Canada Inc.
Telephone: 416-596-7676 x 223
Email: gmcarras@realnet.ca
Web site: www.realnet.ca
Significant quarter-over-quarter gains were noted in the Retail, Industrial and ICI Land sectors, while Office, Residential Land and Apartments saw decreases, although demand in all sectors remains buoyant. The Industrial sector set a record quarterly sales result of $173 million and the Retail sector saw the second highest quarterly result of $332 million.
“Investors are in a race to acquire assets in Canada’s fastest growing province, at the same time users who want to own are faced with challenges in acquiring premises to carry on their business enterprises ”, noted George Carras, President, RealNet Canada Inc.
Regionally, Southwest Calgary dominated the sales picture in the second quarter of 2007. Southwest’s $628 million in sales accounted for 48% of all sales. The Southeast sector tallied $371 million in sales for a 29% share of the total.
“Multiple bid scenarios have been commonplace for investment-grade assets driving values higher and capitalization rates down in Calgary”, added Carras.
RealNet Canada Inc.’s Q2 2007 Commercial Sales Survey was based on the company’s GTA service, which provides extensive details on property and land sales with a minimum sale of $1 Million.
About RealNet Canada Inc.
RealNet Canada Inc. is the leading real estate information services company in Canada. Founded in 1995, The Company’s core information product provides coverage in both the commercial real estate investment and residential development markets, powering the decisions of firms involved in approximately 70% of the market activity.
For additional information, please contact:
George M. Carras, P.Eng.
President, RealNet Canada Inc.
Telephone: 416-596-7676 x 223
Email: gmcarras@realnet.ca
Web site: www.realnet.ca
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