There has been an increase in housing in Calgary in recent times. The construction of all types of homes is said to have increased by nearly 20%. This was stated at the beginning of the year. The Canada Mortgage and Housing Corporation said this record depicts a good impact on the economy. In addition, the construction of all types of homes is higher than the number recorded in the first half of 2021.
The housing start growth of 20% in Calgary reflects that people are moving into the region, so there is greater economic activity. Moreover, it is reported that the rise in construction work has led to a significant increase in construction workers. Based on this report, Canadian Visa Expert advised that construction workers in other countries looking to migrate should consider Calgary because of the job opportunities in the region.
Apartment Starts Growth in Calgary
In recent times, single-detached housing starts got higher by 12%. Most of the housing starts occur in new developments near the city’s edge, and the highest concentration is close to Skyview Ranch and Saddle Ridge in the northeast.
Also, single-detached housing starts grew in Calgary’s southeast. At this place, the inventories of completed and unsold homes showed a sustained demand for housing even as inventories dropped to levels recorded last in 2015.
Canadian Visa Expert stated that immigrants should consider Calgary as their chosen city. This is because the construction boom will likely improve the region’s economy.
Reason Behind the Growth in Calgary's Housing Market
Generally, the rental market in Calgary is currently experiencing more growth than in 2019 and 2020. Canadian Visa Expert stated that this phenomenon is due to the large number of people moving into the city.