3 factors behind Alberta’s appeal for Chinese buyers

What’s driving Chinese investors to Alberta? We take a look at three reasons behind its sudden popularity with Chinese:

#1 New 15% foreign buyer tax in British Columbia

According to the National Bank of Canada, Chinese buyers is estimated to have bought up one-third of Vancouver homes in 2015 – accounting for $12.7 billion out of the total sum of $38 billion invested in Vancouver’s residential real estate.2

However, a recently imposed 15% foreign buyer tax in British Columbia to cool the soaring housing prices in Vancouver may turn the tide, causing Chinese property investors to search for better options elsewhere in Canada.3

And with Juwai Data seeing a 70% increase in Chinese buyer enquiries for Alberta1, it would seem that they’ve found their new investment destination in Canada – especially in Calgary, which offers better value for money when compared with the inflated housing prices in Vancouver.

#2 Appealing and laidback lifestyle

Known as the gateway to the Rocky Mountains, Alberta is home to several UNESCO World Heritage sites, which includes the Dinosaur Provincial Park and thousand-year-old glaciers at the Columbia Icefield.

Equally famed for its wilderness and for its ski slopes and resorts – a legacy as a host of the 1988 Calgary Winter Olympics – this makes Alberta an enticing nature haven and a breath of fresh air (literally) for wealthy Chinese.

Juwai.com CEO Charles Pittar shares with The Globe and Mail that Alberta’s relaxing environment is eminently attractive to Chinese – especially those with families, who are seeking a better lifestyle abroad.

“Chinese interest in Alberta is going at a rapid pace. Of course, it’s starting off a much lower base than British Columbia or Ontario, so rapid growth doesn’t mean the Chinese have suddenly become huge buyers of Alberta property, but what these trends show is that Alberta is starting to appear on the radar of Chinese buyers,” said Pittar.

Additionally, living cost in Alberta is comparatively low for a city that is booming with wealth, thanks to the fact that Alberta not only has a lower price of gasoline and natural gas, but also no sales tax.4

All in all, living in Alberta sounds pretty fantastic, and the Chinese are catching on to that.

#3 New direct flight from China to Calgary

Hainan Airline has recently launched a new direct air link between Beijing and Calgary, and this convenient connectivity is expected to give Chinese arrivals in Alberta a real boost.

This new direct flight capitalises the burgeoning Chinese tourism interest in Western Canada – such as Alberta, Banff, and Lake Louise – which in turn, had highlighted the lack of non-stop flights from China to Calgary in the past.5

With Chinese being avid travellers and big fans of speed and convenience, it’s safe to say that Alberta would be receiving an influx of Chinese visitors in future – many who may consider to purchase a home there should they fall in love with Calgary or other parts of Alberta.

Chinese appetite for Canada set to grow

While it’s still early days yet, the three factors above play a pivotal role in driving Chinese buyers to both Calgary and Alberta in the long-term, especially as more and more Chinese property investors are moving towards new markets.

Juwai research also indicates that Canada’s popularity is set to leap, and with Alberta up-and-coming as an investment destination for Chinese, Canada’s ability to captivate Chinese real estate investorsremains stronger than ever – especially if the Chinese government decides to further loosen capital controls.

Sources: 1. Juwai Data Q1 2016; 2. National Bank of Canada; 3. The Globe and Mail; 4. Moving2Canada.com; 5. Calgary Herald http://bit.ly/2bn9xxB

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Community Profile: Pump Hill

About Pump Hill Community

Although the area known as Pump Hill developed in the late 1960’s, it was not established as a community district until 1991. The community of Palliser originally encompassed Pump Hill.

The pathway system links Pump Hill to the Glenmore Reservoir and its many recreation opportunities, including the boat docks, Weaselhead Flats hiking trails, South Glenmore Park and the Heritage Park Historical Village

Source: http://pbpcommunity.ca/us/communities-and-history/Community Profile

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PUMP HILL COMMUNITY DEMOGRAPHICS

In the City of Calgary’s 2012 municipal census, Pump Hill had a population of 1,614 living in 563 dwellings, a -2.5% increase from its 2011 population of 1,655. With a land area of 0.9 km2 (0.35 sq mi), it had a population density of 1,790/km2 (4,640/sq mi) in 2012. Residents in this community had a median household income of $93,360 in 2000, and there were 6.2% low income residents living in the neighborhood. As of 2000, 16.5% of the residents were immigrants. A proportion of 21.7% of the buildings were condominiums or apartments, and 28.4% of the housing was used for renting. For more detailed info visit the City of Calgary community profiles site.

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SHOPPING

Shopping at Glenmore Landing is handy as it is on the corner or 14th Street SW and 90th Avenue SW. However, both the Chinook Centre and South Centre malls are a short drive away.

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SCHOOLS

Calgary Board of Education
K-6 Nellie McClung – 2315 Palliser Drive SW (in the neighbourhood)
Junior High John Ware – 10020 -19th Street SW (Oakridge)
Senior High Henry Wise Wood – 910 – 75th Avenue SW (Kelvin Grove)


Calgary Catholic School District

K-6. St. Gerard – 1204 – 96th Avenue SW (Haysboro)
K-9 St. Cyril – 2990 Cedarbrae SW (Cedarbrae)
K-9 St. Matthew – 416 – 83rd Avenue SE (Acadia)
Senior High. Bishop Grandin – 111 Haddon Road SW (Haysboro)

15 Pumphill Close SW_9368

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Community Profile – Mount Royal

Community Profile – Mount Royal

During the early 1900s, Mount Royal was promoted by the C.P.R. as an exclusive neighbourhood for Calgary’s affluent citizens. The neighbourhood was originally known as American Hill, because of the large number of Americans who settled there. Later, the area was formally named Mount Royal, after the Montreal community which was home to the then president of the C.P.R, William E. Van Horne. Mount Royal developed rapidly between 1904 and 1914.

Restrictive covenants were placed on the titles of properties which restricted development to single family dwellings and set minimum housing construction costs. The exclusive character of the community has been maintained over the years. Most of the houses in the area were constructed during Calgary’s 1910-1912 building boom when Mount Royal gained its reputation as an exclusive residential district. It was the home of many of Calgary’s elite, including Colonel James Macleod and the A.E. Cross family.

The Lower Mount Royal area was annexed to the City in 1907 and was part of the original C.P.R. subdivision of Mount Royal in 1909. Unlike the Upper Mount Royal district, however, Lower Mount Royal was subdivided into fifty foot lots, and wood and stucco were the predominant building materials as compared to the brick and sandstone in Upper Mount Royal. Many of the lots were further subdivided into twenty-five foot lots and developed with houses of wood frame construction, similar to those of the Beltline district.

The community has experienced dramatic changes in the last twenty years. Much of its residential, and an increasing proportion of its commercial areas, have been redeveloped to accommodate Calgary’s rapid growth. The Area Redevelopment Plan encourages the continuation of this trend in a manner which reflects community and city-wide objectives and fosters medium density residential and commercial development.

Source: http://calgarycommunities.com/communities/mount-royal-community-association/

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Demography

Lower Mount Royal: http://mountroyalstation.ca/wp-content/uploads/2013/03/mount_royal_lower.pdf

Upper Mount Royal: http://mountroyalstation.ca/wp-content/uploads/2013/03/upper_mount_royal.pdf

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Shopping

17th Ave

Arguably the city’s most iconic street, 17th Avenue S.W. (and the streets that adjoin it) has made and maintained a name for itself as the go-to retail and entertainment district in Calgary. Grab a coffee and do some window-shopping, or step inside the boutiques and open yourself to a world of unique everyday items and high-end fashion.

Calgary Jewellery, Ette, Frank & Oak Colour: The Grey Shop, Gravity Pope, Swimco, Lululemon Athletica

Downtown Core

Together, TD Square and Holt Renfrew make up the CORE – Calgary’s most expansive urban shopping destination. Located in the heart of downtown along Stephen Avenue, the CORE – TD Square – Holt Renfrew features four storeys of shops and services, a large food court, and an indoor tropical garden.

Among the CORE’s 160-plus stores, shoppers will find exclusive fashions, accessories and lifestyle items not available anywhere else in the city.

Massive skywalks with glass floors link the Holt Renfrew, the CORE and TD Square buildings, providing an uninterrupted passage from one end of the shopping centre to the other.

The CORE offers complimentary valet parking service and free parking weekdays after 4 pm and on the weekends for the first 3 hours.  After the 3 hours a $2 per hour fee applies.

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Schools

UPPER/LOWER MOUNT ROYAL

Earl Grey School – Grades K-6

Mount Royal School – Grades 7-9, exceptional/complex needs (7-9)

Western Canada High School – Regular (10-12), Dual Credit (10-12), Early French Immersion (10-12),International Baccalaureate (IB) (10-12), Late French Immersion (10-12), Off-Campus Work Experience (10-12), International Baccalaureate (French) (10-12)

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You Are Invited



You Are Invited

PRIVATE EVENT

Introducing the BORDO Series by RED TREE Thursday, November 26th 2015 5:00pm-10:00pm
@ Units 1 & 2 – 4729 17 Ave NW

Featuring artwork by c.kuzmanovich & Lisa Heinricks Guests can enter the draw to win a custom piece of artwork by

c.kuzmanovich for a minimum $5 donation. All donations will be matched by Red Tree Custom Homes and given to
The Calgary Humane Society.

Come See Our New 5 Plex Renderings $18,000 Event Exclusive Incentives!

RSVP: events@redtreecustomhomes.com

by Nov 19, 2015

Limited space available-champagne & appetizers will be provided

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Henry Ford Home Vying for Record Shows Calgary Booming

Larry Lindholm made his fortune in Calgary’s booming energy industry, building and selling an oilfield equipment company. Then he bought a C$10.4 million ($9.8 million) mansion.

“This is the big reward,” Lindholm, 52, said from the new home he shares with wife, Kristi, 35, and their four kids. “Calgary’s a neat city to be part of, the opportunities are here right now. It’s amazing how it’s grown, with all the development taking place in the oil and gas sectors.”

  Read the press release on Bloomberg

 

 

Calgary Luxury Real Estate Buyers To Enjoy Private Jet, Chopper Services

Sotheby’s International Realty wants to help its Calgary clients fly high, and in style.

The luxury real estate firm has announced it will offer private jet and helicopter services to certain clientele as it expands its presence in Cowtown, said a Tuesday news release.

Jets operating through Albatross Aircraft Corporation and Million Air will fly clients into Calgary from almost anywhere in the world and the helicopters will take them to see ritzy properties while they’re in the city, Postmedia News reported.

  Read the press release on Huffington Post

 

 

Luxury house hunters in Calgary go airborne thanks to Sotheby’s International Realty Canada

The limit for Calgary’s jet-setting real estate hunters is sky high.

Sotheby’s International Realty Canada (SIRC) Tuesday announced it’s expanding its luxury real estate brand in Calgary, including offering an exclusive private jet and helicopter service for elite clients.

Mark Evernden, senior vice-president of sales with SIRC, said the realtor’s ability to offer the airborne service to affluent clientele gives it a leg up in Calgary’s burgeoning luxury real estate market.

  Read the press release on Sun

 

 

Sotheby’s offers private jet, helicopter service to woo luxury homebuyers to Calgary

Sotheby’s International Realty Canada in Calgary will be offering clients new service arrangements with private aviation companies Albatros Aircraft Corporation and Million Air, based out of the Calgary International Airport.

Mark Evernden, senior vice-president of sales for Sothebys, said the real estate company will now have the ability to offer private jet and helicopter services to targeted clientele. Prospective clients can be flown to Calgary by private jet from practically anywhere in the world and when they are here they can then board a helicopter to view luxury properties on the market. Costs for the service vary depending on the clients’ needs.

  Read the press release on Financial Post

 

 

Mark D. Evernden and Associates Supporting a Good Cause

Mark D. Evernden and Associates is always one to support a good cause and that’s why we support the Calgary Humane Society. Joined by our trusty pup Copper, we made sure to show Calgarian pets our support.

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Equestrian estate south of Calgary auctioned for $3.75 million

CALGARY – A luxury property in the Calgary area was sold on Thursday during a live auction for $3.75 million.

Luxury real estate auction firm Concierge Auctions conducted the bidding process for the equestrian estate in the Spruce Meadows area exclusively listed with Mark Evernden of Sotheby’s International Realty Canada.

  Read the press release on Calgary Herald

 

 

Luxury Calgary-area properties to sell through live auction | Global high-end real estate auction firm enters thriving local market

Two luxury properties in the Calgary area, listed with Sotheby’s International Realty Canada, will be sold through a unique live auction in early May.

Sotheby’s is partnering with Concierge Auctions, a New York-based global luxury real estate auction firm, for a live auction on May 8 at a private location in Calgary.

The auction will be the first luxury real estate auction of its kind in Calgary, and a method of sale that is becoming increasingly popular in luxury real estate markets around the globe. With the luxury sector booming in Calgary, it’s no surprise sellers are starting to adopt this sales and marketing tactic.

  Read the press release on Calgary Herald

 

 

$38M Priddis-area home with 3 bedrooms to hit Alberta market

A southern Alberta home is about to go on the market for a cool $38 million. At that price it’s the most expensive property known to be listed in Alberta, says Mark Evernden of Sotheby’s International Realty Canada.

The property, located just outside of Priddis, is known as Kettle Lake Ranch and is a 15-minute drive from the edge of Calgary. “The home is not just a home, it’s a package — it’s on 240 acres of land,” says Evernden. By comparison, Calgary’s most expensive home — based on the city’s estimated market property values as of July 2013 — is a $17.9-million Pumphill property.

  Read the press release on CBC

 

 

Sprawling southern Alberta property for sale for nearly $38 million | Once owned by Ford family related to Henry Ford

CALGARY – A sprawling property just a 10-minute drive southwest of the city will officially go on the market for sale this week at $37.88 million, which could be the most expensive residential listing ever in the Calgary area, the Herald has learned.

The Kettle Lakes Ranch, located in the Municipal District of Foothills, includes a 5,000-square-foot home on 97 hectares of land, which was owned 25 to 30 years ago by the infamous Ford family of Henry Ford heritage, said Mark Evernden of Sotheby’s International Realty Canada, which is listing the property.

“There has not been a property to my knowledge of single-family or country residential of that value in the Calgary area,” said Evernden.

He said the finishings on the four-year-old house alone cost about $6 million. The house is privately-owned by a woman whose husband, a businessman, passed away a few years ago.

  Read the press release on Calgary Herald

 

 

Price tag for ‘fairytale ranch’ south of Calgary nears $40 million

CALGARY- A sprawling ranch southwest of Calgary is up for grabs—for those who have mega-millions to spare.

Kettle Lake Ranches near Millarville sites on 242 acres. The asking price? A staggering $37.8 million, which just might be the most expensive residential listing ever in Alberta.

“You’re going to get a buyer that wants privacy, that wants seclusion, and yet wants elegance,” says Mark Evernden from Sotheby’s. “Usually business people, company owners.”

  Read the press release on Global News

 

 

It took a film crew fly-in to sell this Calgary home…

Last year, another realtor – Mark Evernden – relisted the property around $1.7-million and launched an aggressive ad campaign, even flying in a Vancouver film crew to create an in-depth video about the property, city and provincial attractions for curious buyers abroad. After about a dozen showings, a local resident drafted a bid.

  Read the press release on Globe and Mail

 

 

Calgary’s country residential real estate market set to take off…

A longer winter season in the Calgary area has had an impact on sales in the country residential market but with the weather warming up it’s expected that sector will see an uptick in activity similar to what’s happening in the city and in surrounding towns.

  Read the press release on Calgary Herald

 

 

 

 

Luxury Real Estate

Mark D. Evernden & Associates provides the utmost in client service with the absolute best knowledge of the luxury real estate market in the world. Contact us today for a full complementary consultation.

Alberta Experience

We know the market and we know how to bring the best luxury concierge property service around. Engel & Völkers international expertise and exclusive client exposure pairs perfectly with our collective 40 years of knowledge around the Alberta luxury home real estate market.

Your Professional Team

Bringing an exclusive team of luxury real estate associates and a rolodex to match, Mark D. Evernden & Associates provides world-class professional knowledge and intimate local familiarity creating an impeccable track record of discerning client results.

Mark D. Evernden & Associates

Real Estate Press

Community Profile: Pump Hill Posted July 10, 2016
Community Profile – Mount Royal Posted July 2, 2016
You Are Invited Posted November 20, 2015

Head Office

Mark D. Evernden & Associates
140 - 215 9 Ave SW
Calgary, Alberta | T2P 1K3
Tel:1-403-516-6265
Cell: 1-403-829-3776
Fax: 1-403-592-7791

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