This is one of the many reasons we don’t typically recommend condos to real estate investors in Calgary. Apartment-style condos dropped in price more than any other property type in the Calgary oil&gas downturn between 2014-2021 and in a lot of cases are still below the 2014 peak!!! This is in addition to the high supply (which will likely continue with commercial to residential conversions), limited to no positive cashflow, limited control over the property and the risk of special assessments and a badly managed condo board. That being said there ARE circumstances in which this type of property can make sense. It’s important to do your research and work with a professional who understands the market and your specific needs as an investor.
Calgary condos as an investment
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