InToronto, Canada, living conditions are becoming more and more cramped as condos are becoming smaller and smaller. Prices are not really decreasing much for living in a smaller space. As of right now, over 63 percent of condos that are ready to be lived in are either studios or one bedroom. A tiny 4 percent are more than two bedrooms, and only 9 percent of the two bedrooms include a den. Also, of the over 9,000 condos planned to be ready by the year 2014 for the city ofToronto, 67 percent of those are only studios or one bedroom.
As I said, the average size is also going down dramatically. As of right now, the average size of a condo is 822 square feet. For the projected estimates for 2014, that size will go down to 644 square feet. Living in smaller spaces for the same price is not going to be an easy task for many Canadians, but it seems there will soon be no choice with all of the building plans being on a smaller scale. You can see an interactive graph of this information and better understand the impact this will have on new buildings by clicking here http://www.cbc.ca/news/interactives/toronto-newcondos/.