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:
The Smart House is currently under construction at the corner of Queen Street and Simcoe Street in Toronto. The micro bachelor units, all of which are sold, started at $239,900 and run between 280 and 460 square feet. This is a floor plan for one of the 289 square feet units.