In Toronto, towers upon towers of small condo units fill block after block downtown. Condo sales across the board are slumping in Canada’s biggest cities as supply soars and demand shrinks. And the hardest units to sell are often the tiniest.
Bachelor and one bedroom units in the Toronto area made up 20 per cent of condo sales in the last quarter of 2024, according to the Toronto Regional Real Estate Board. Bigger units, such as one bedroom plus den, two bedrooms and two bedrooms plus den, collectively made up 72 per cent of sales.
One bedrooms are also fetching less on the rental market — the average rent for a one-bedroom apartment in Toronto has dropped 5.8 per cent year-over-year, according to data from rental unit listing site Rentals.ca, while that decline is even steeper in some other Canadian cities.
Toronto-based real estate broker John Pasalis says one-bedroom and studio spaces are the hardest to move in the current …