“The economic outlook for Calgary has a lot of optimism,” says Don Kotick, president and chief executive officer of Sotheby’s International Realty Canada.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Kottick notes the rise of Calgary’s market is a reversal of fortune for the segment that struggled after 2014 amid a slump in the energy sector that lasted well into 2020. “Edmonton is definitely feeling the uptick of optimism, too,” Kottick says. “The economic forecast is positive — just not as active as Calgary’s.”
“Lots of these folks, who went to a major market for work and are now returning to Edmonton, are astounded by what they can get with their money.” Another tailwind for luxury specific to Alberta is migration, driven by renewed strength in Alberta’s large energy industry.
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