Although the Alberta economy is heavily based on oil and petrochemicals, the is an incredible level of diversity…………mining, agriculture, tourism and retail to name a few. Being the most business friendly region in North America, Alberta is a prime market for business growth which equals jobs. Ultimately, jobs attract people which drive the housing market.
The price of a barrel of oil may be a barometer of world politics and economics, fluctuating up and down on the latest news of the day, however the fundamentals that drove the price of oil past the threshold that make oil sands production profitable are here to stay. As well, Albertans have done a stellar job in the last decade of ensuring that their future depends on a lot more than the oil. After many years of strong economic growth the government books are in great shape, and with the lowest taxes in the country people will always want to move here.
Through the cycle of real estate, Alberta is primed for growth as it in the process of exiting a slump moving into a recovery. The recovery stage is the ideal investment time as values are low but are starting to show signs of increase.
For more information on the Alberta market, please contact us.