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How To Find A Downtown Condo For Less Than $250,000? Live In Less Than 300 Square Feet

With the increasing cost of home ownership in Canada’s biggest cities, micro condos — think: super-duper tiny — are on the rise.

With condos in Canada’s priciest cities costing an average of $500,000 and up, many would-be buyers have resigned themselves to renting. Now, in response to ever-climbing prices, a handful of developers are offering so-called “micro” condos — 400-square feet sized spaces (and smaller) that can go for $250,000 or less. Many come with a downtown location (and stunning views) and thoughtfully cram a living room, bedroom and kitchen into less than 400 square feet. Often, to save space, the units come equipped with fold-away furniture like Murphy beds or dual-purpose pieces like washer-dryer combo units and dishwashers in drawers.

“I don’t think many people wake up in the morning saying, ‘I want as little space as possible,’” says Laurence Vincent, vice-president sales and marketing at Prével, a Montreal-based micro condo developer. “It comes from a need in the market.” The biggest demand comes, predictably, from young urban professionals looking to break into the real estate market — though small spaces have also become popular with students and people with homes outside the city looking for a pied-à-terre.

Check out some of the tiny condos recently built and currently in construction across the country: