Banff Lifestyles

Banff, Alberta is one of the first towns on the CPR Railway line. Natural hot springs discovered while scouting the route for the railway were key to the creation of the first Canadian National Park.

From the very beginning, the Town of Banff was created to attract tourists and has been a popular destination for travelers ever since. Initially, visitors arrived by train to view the spectacular mountains, soak in the "medicinal" Hot Springs, and to conquer the unfamiliar, never ascended peaks of the Rockies. As the years went on, more and more people visited the area for the spectacular scenery, a chance to see wildlife, and to participate in the outdoor sports offered in the area.

The Town of Banff has the rare privilege of being located in a National Park, and therefore restrictions are strongly enforced to protect the Park from the people and the people from the Park.

One such restriction in place is the Need to Reside Clause, stating that one must own and operate a business that provides their major source of income or must work in such an establishment located in the Park, to have the right to reside in the Park.

Any person has the right to purchase and own real estate in Banff, though not necessarily to live there.

Real Estate Investment opportunity in Banff is widespread due to several factors:

• Future Development of both commercial and residential has been brought to a near halt in an effort to return the Park to a more natural state.
• Housing is very limited, yet there is a substantially larger permanent and transient population than there is available accommodation .
• Rental vacancy rate has been hovering around 0% for many years.
• Appreciation of Banff real estate is forecasted to rise, due to development restrictions

Click Here to Read the Need to Reside Clause for Banff

More information about life in the Bow Valley can be found on the "Mountain Lifestyles" page by clicking this link: read more