An increase in building permits for inner city communities in Calgary is
a tell tale sign of a building boom in prime inner city residential
areas. How much of a boom are we talking about? The city of Calgary has
reported a 95% increase for building permits in May of 2012 compared to
May of 2011. Building permits have increased substantially over the
previous months, so expect to see a continued rate of inner city home
construction for the remainder of 2012.
Inner city lots are so popular in fact, sometimes they are purchased in
less than 24 hours or even before they hit the market with buyers
and builders sometimes going door to door looking for someone willing to
sell. This is especially true in highly sought after communities like Hillhurst and Altadore.
Some areas in Calgary have had lot prices increase by 30% in the last
12-18 months because of demand!
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