Quote:
Originally Posted by tayser
Define multi-family for me... is it just 3 or more bedroom units in buildings that share common areas? i.e. any apartment(condo/unit) building?
Because if that's the case about 15% of all new off-the-plan units would be 3 bed or more, the vast bulk are 2 bed (50+%) and the remainder would be 1 bedders.
10-15 years ago everything was far more skewed toward Studios/1 bedders (i.e more than 50%) but these days studios are almost unheard of in new developments.
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"Multi-family" in the North American parlance just refers to multi-unit apartment buildings (as opposed to single family dwellings).
That's encouraging to hear that so many new condo units are 2/3 bedroom though. I couldn't find any reliable, comparable stats for Toronto but my sense is the large majority of new construction units are still 1-bedroom. 3-bedrooms are pretty uncommon, and unsurprisingly are very expensive as a result - not really possible to find one for under $1 million.
That said, there has seemed to be a bit of an increase in family-sized units in recent years. Still unaffordable though.