Saskatoon Condo Conversion Update

With the increase demand for real estate many owners of apartment buildings and rental property are currently looking to cash in and convert their properties into condos.  The topic of Saskatoon condo conversions has been a controversial topic in Saskatoon over the past year.  In August 2007 this issue was presented to the City of Saskatoon who rejected the ban on condo conversions.  According to the people who brought forward the proposal to ban condo conversions in Saskatoon, the people most affected are students, elderly and low income families.  The city indicated they would keep a close eye on this issue and deal with it as it moved forward.  A city councilor named Charlie Clark indicated when speaking to a crowd on February 28, 2008 that the owners of eight per cent of rental properties in Saskatoon are looking to convert them into condos.  Many people that normally wouldn’t have thought about purchasing a property are now looking into it.  In many cases purchasing a condo in Saskatoon can in fact be cheaper than your monthly rent.  There are a lot of additional benefits of purchasing real estate in Saskatoon than just saving money on your rent.  If you are interested in looking to get into the Saskatoon real estate market feel free to contact me for additional information.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

This entry was posted on 2. March 2008 at 01:09 and is filed under Buyers, Saskatoon Events, Current Market, News, Saskatoon, Saskatoon Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.