In Canada’s largest housing market, the number of unsold condominiums keeps rising.

Butler said there’s been “severe overbuilding” in the Toronto condo market for a number of years, specifically when it comes to smaller units.

“The tiniest of tiny condos,” Butler said. “It’s weird that in a country like Canada where there’s been a consistent housing crisis for the last 10 years that if you build a very bad product, people won’t take it, it’s as simple as that.”

Butler said many of the unsold condos on the market today are ones designed for investors or real estate speculators and are not practical for most families.

“They are roughly the size of large hotel room, only meant to be rented out, and there’s been simply a massive overbuilding of non-family units,” he said, noting that many of the condos for sale in Toronto currently are 500-square-feet or less.

  • Grandwolf319@sh.itjust.works
    22·
    19 hours ago

    Everything has a price, no one wants a 500 sqft apartment because it’s probably priced higher per square foot than a 2 bedroom.

    If they are glorified hotel rooms then they need to be priced as such. One person in a 500 sqft unit would always feel more cramped than two people in 1000 sqft unit, so idk what these investors were thinking.