Reliance Properties has been building more of the small units in British Columbia, following the well-established trend for compact living in in New York and London.
The company’s president Jon Stovell told Metro News that millennials in particular get the benefit of a smaller living space balanced against the proximity to downtown.
“The main amenity is the city itself," he said. "It’s a 300-square-foot condominium with a three-million-square-foot living room.”
Meanwhile, the Carrington Group recently launched its Vibe condos in Edmonton; despite concern over how well they would sell, the small units have proved a hit.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Waltham, Rattlesnake Harbour, Englishtown, Bradwell, Vineland
A Canadian developer says it has seen increased interest in its micro-condos as first-time buyers and young professionals seek affordable housing options.