Western Canada seems to be where it's at in terms of investment real estate. Two of the top five areas for investment real estate transactions are located in Alberta. Okotoks and Leduc round out the top five communities and are on the rise population-wise as well.
Numbers one, two and three on the list are the B.C. communities of Kitimat, Terrace and Abbotsford-Mission, respectively. Those who are thinking of investing in the west may get more bang for their buck outside of the major cities. Okotoks and Leduc make sense for a number of reasons, aside from the fact they're two of the most rapidly growing cities in Alberta.
Okotoks' close proximity to Calgary makes it a popular commuter community and is especially popular with younger workers. More businesses are choosing this foothill community as a home base and the city's population has grown almost 18 per cent in five years. But Leduc has that beat with an increase in population of almost 24 per cent over five years. Leduc is not far from the Edmonton airport, making it the perfect location for development opportunities. Now that cannabis is legal in Canada, Aurora Cannabis has chosen Leduc to be home of the biggest cannabis production plant in the world.
As far as real estate transactions are concerned, Alberta is on the move. Legal and financial issues regarding real estate investment can get complex. The rules are always evolving at all governmental levels, and it may be hard for investors to keep up with the changes since investors are always looking for tax advantages. Alawyer would be able to assist investor clients on those changing laws and how they pertain to any potential deals they may wish to undertake.