New supply outpaces Calgary industrial real estate absorption

CBRE report says the industrial market continues to see strong activity from national and multinational users

New supply outpaces Calgary industrial real estate absorptionDespite positive market fundamentals, the availability of space in Calgary’s industrial real estate market rose in the third quarter of this year due to new supply outpacing active absorption, says a report by CBRE. The third quarter “marked the 11th consecutive quarter of positive net absorption for Calgary’s industrial market,” said the report. “Although slightly…

Calgary office vacancies trending down

Avison Young report says the tech sector should play a key role in Alberta’s future economy

Calgary office vacancies trending downThe overall Calgary office vacancy has been trending down for the last 18 months, according to a new market report by Avison Young. Peak vacancy was recorded in second-quarter 2018 at 23.5 per cent, and is over a full percentage point lower at 22.3 per cent in third-quarter 2019, added the report. “While the vacancy…

Commercial taxes a burden in Calgary, Edmonton: report

Property taxes should reflect the level of services used by ratepayers: Fraser Institute

Commercial taxes a burden in Calgary, Edmonton: reportThe commercial property tax rates in Calgary and Edmonton are two to three times higher than residential rates, with little rationale, says a report released on Thursday by public policy think-tank the Fraser Institute. The report said businesses in the two cities pay much higher property tax rates than residents, which can lead to businesses…

Calgary suburban office market sees spike in leasing

Vacancy rate decreased by 90 basis points to 20.6 per cent

Calgary suburban office market sees spike in leasingThe suburban office market in Calgary experienced significant positive absorption in the third quarter of 229,745 square feet and the vacancy rate decreased by 90 basis points to 20.6 per cent, says commercial real estate firm CBRE in a report. The report said flight-to-quality continues to be a trend as tenants look for cost savings,…

Calgary region sees largest decline in new home prices

Calgary region sees largest decline in new home pricesIn August, Calgary (-2.2 per cent) and Regina (-2.1 per cent) posted the largest year-over-year declines in new house prices for the third month in a row, says Statistics Canada. “Elevated housing inventory levels continued to affect new house prices in both CMAs. Canada Mortgage and Housing Corporation reported that single-family housing starts declined year…

Lighthouse Labs receiving funding to expand tech training in Calgary

Up to $300,000 over three years to help Calgarians looking to pivot their careers

Lighthouse Labs receiving funding to expand tech training in CalgaryThe Opportunity Calgary Investment Fund is giving Lighthouse Labs up to $300,000 over three years to expand tech training for Calgarians looking to pivot their careers. It’s a coding-education company that offers 12-week bootcamp courses in web development. The company wants to accelerate expansion of its Web Development Bootcamp programming in Calgary to achieve a…

Calgary, Edmonton home prices continue to slide

Sales activity in Calgary has increased as buyers take advantage of lower prices, according to Royal LePage

Calgary, Edmonton home prices continue to slideThe inventory of homes for sale has tightened as home buyers take advantage of Calgary's affordability. And in Edmonton, home prices are declining as the market correction continues, according to the Royal LePage House Price Survey released on Thursday. The report said the aggregate home price in Calgary decreased 4.3 per cent year over year to…

Calgary health tech accelerator gets $1 million

HATCH-YYC forecasts it will incubate at least 55 health-tech companies over five years and be a catalyst to expand Calgary’s health-tech cluster

Calgary health tech accelerator gets $1 millionA health technology accelerator is receiving up to $1 million over three years from the Opportunity Calgary Investment Fund. HATCH-YYC is intended to provide companies a platform to accelerate market access and improve patient care. It’s the first health technology accelerator in Alberta. It will provide companies access to a privacy-compliant communication platform as well…

Edmonton, Calgary housing starts jump in September

Edmonton, Calgary housing starts jump in SeptemberSome impressive numbers were released on Tuesday indicating that September was a good month for homebuilders in the Calgary and Edmonton regions. According to statistics from Canada Mortgage and Housing Corp., the Edmonton census metropolitan area saw single-detached housing starts of 403 for the month, up nine per cent year over year. The ‘all other’…
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