Summary
Micro-condos in Canadian cities like Toronto and Vancouver are losing value because there are too many available and not enough buyers. The trend of building small, affordable units to attract investors has led to a surplus, especially as Canada's population growth slows down.
Key Facts
- Micro-condos are small living spaces, often around 300 square feet.
- These types of condos have become common in Toronto and Vancouver over the past decade.
- The value of micro-condos is falling faster than other types of homes.
- The condo market in Canada is experiencing a significant downturn not seen since the 1980s.
- In 2025, Canada saw a large decline in population growth due to new immigration limits.
- Over 60,000 new condo units were built recently, exceeding current demand.
- Investors own most of the smaller condos in Toronto, which were initially popular due to lower prices.
- Many recently built condos are sitting empty and unsold in Toronto and Vancouver.
