So covid has given us 18 months sitting in Europe trying to better understand Calgary, the job market real estate etc. While the bigger cities have seen exponential growth the price of Central condos (Eau Claire, Kensington, Belt line...) seems to have seen more moderate rises. As an outsider trying to fully grasp the decline due to falling oil prices the last decade is difficult but reading about 30% empty offices in downtown makes me reconsider whether current prices are a bargain or maybe rather a dead cat bounce.

I am happy to invest in Calgary for the long term and have the means to buy something we can be happy with, but I don't know enough of the city yet to be sure of what area will be the best suited for us (currently Kensington near the park) so there is a risk that we would sell and purchase elsewhere in the next 2-3 years.

Anybody else in a similar situation trying to decide whether to rent or buy right now? What are your pros and cons and outlook for the market in the short term (1-3 years?)