Good for the Buyer...or Is it?
With the rising cost of real estate in Calgary, it's no wonder that condominiums have become increasingly popular in the last year. In November alone, sales from Calgary condos and townhomes showed a 20% increase.
The benchmark price for a Calgary condominium is $300,700 compared to $279,600 in November 2013. Even with rising prices, a condo is still the most affordable alternative for many trying to get a foothold in the Calgary real estate market.
In an effort to continue the momentum and protect buyers in this booming market, the Alberta government is looking at introducing a new legislation - Bill 9 - the Condominium Property Amendment Act. This includes about 50 amendments to the condominium property laws in an…