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.
Knock a wall down between them for a door and remove one of the kitchens, and now you have a 2 bedroom 2 bath condo with dual exits for an emergency.
If you can’t move between units without going through a bedroom, make that a den or something and put a wall up in one of the 2 living rooms for the 2nd bedroom.
It might be a wonky unit, but it’d still be better than a shoebox