19 Dec Family-sized condo units are changing Toronto’s real estate market.
Original article via Toronto Storeys. Click here to read.
After decades of courting the young and single, Toronto condo developers finally find themselves in a family way. They’re still attached to those 600 square-foot units that only a millennial could love let alone live in, but lately builders have begun to realize two things: (1) even millennials eventually grow up and (2) there’s life after marriage and kids. Though condos with two or three bedrooms units aren’t common, they are more of them than ever.
There are several reasons; first is that a growing number of young families want to live downtown. Second is that the cost of the much sought after single-family home has reached the point where spending upwards of $1 million on a decent sized condo makes fiscal sense.