Looking for opportunities to invest or do you want to buy affordable urban housing? There seems to be a new trend in Big City housing for young professionals. Check out this article from Canadian Real Estate Wealth.
The big new thing is small
A Canadian developer says it has seen increased interest in its micro-condos as first-time buyers and young professionals seek affordable housing options.
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.
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