In spite of the recent slump in world oil prices, the retail real estate sector in Calgary is still going strong.
According to a recent report from Barclay Street Real Estate, the rate of vacancies in the market has only risen slightly, going from 2.18 percent to 2.29 percent for the first six months of 2015.
It went on to note that, even though the Alberta economy has taken a hit, there is every reason to be hopeful that Calgary will continue to hold its position as one of the most profitable places for retail locations in the country. This can provide spin-off benefits for other firms, such as Print companies. They can provide a wide range of printing and other support services that business depends upon in order to thrive.
Barclay Street Real Estate feels that one of the reason for this is the competitive market in the city. There are relatively few spaces available, and developers are continuing to go ahead with their project ideas, with much of their efforts being focused on the development of the inner city areas instead of urban sprawl. This is because many residents are interested in living in the urban core so they can easily access the amenities it has to offer. They are also downsizing, leaving more of their funds available for travel and entertainment.
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