City residents trade smaller floor space for outdoor areas

Developers in Vancouver are adding additional outdoor space and reducing dining areas and second bathrooms in condos on homebuyers' demand.

The shift in space requirements of city dwellers means that a larger balcony is preferable to more internal space.

Realtor Ken Chong of MacDonald Realty told the Vancouver Sun that making the outdoor space liveable is “a very important part of marketing a condo these days.”

Single-family homes have also seen a demand for more creative use of outdoor areas.

Chong is marketing condos in the city that have 800 square foot of indoor space and balconies of 500 square feet. He says that the large outdoor areas add around $55,000 to the price of the condos and buyers are willing to pay the premium. 
 

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