As you might’ve already heard, new home starts throughout Calgary slowed in 2018, at least in terms of detached and semi-detached homes. In the apartment sector, however, new construction starts did jump a bit, especially on the condo side of the market.
As of last December, 81% percent of all residential product under construction in Calgary was multi-family, and apartment-style product accounted for 7,155 of the 11,452 units being developed at that time.
The bulk of apartment construction in Calgary was focused on condos, as mentioned, but rental apartment construction was still on the rise as well.
Collectively, 2018 saw 10,971 units start construction in Calgary, representing a 4.9% decline compared to 2017.