If you’re a 20- or 30-something set on living in the very heart of the downtown core, it’s likely you value location over square footage. Right?
That’s the thinking behind a growing trend of tinier condos in Toronto’s housing market at least.
Well that and prices of course.
In the face of skyrocketing values within the city’s core, the norm among several newer condo units is go smaller – as a means of granting millennials, many of who are otherwise at risk of getting priced out of the market, the ability to opt for compact units that sit in their budget.
Average condo prices in Toronto crossed the $400,000 mark for the first time in the second quarter of 2015, as prices across the GTA grew 5.8 percent year-over-year.
Often presented as an affordable entryway into home ownership for Gen Y, who predominately desire walkability and transit-friendly locales over that one extra bedroom or bathroom, opinions of smaller condos is no doubt met with a mix of opinions.
Yet, it’s key to note smaller units do have their fare share of benefits; and despite what many think, the average condo in Toronto is far from a tiny shoe-box in the sky.
For the rest of the article please go to: https://www.theredpin.com/blog/how-big-and-small-are-torontos-condos-map/
Source: The Red Pin, 8/20/2015