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The 2+ bedroom issue isn't that surprising. Looking at rental rates or condo prices, 3 two bedrooms brings in a lot more money than 2 three bedrooms for not much more space. Studios are probably the highest profit per sq ft. The issue isn't whether there is demand for apartments with more than 2 bedrooms. It's whether there's sufficient demand to fully occupy a building with 2 bedroom or less units. If a developer thinks they can fill that building, building larger units is just lost money.

The math changes when they can't fill all the two bedrooms. I think this is why some of the attempted condos in this area failed, but it seems that the solution is to make more 2 bedroom apartments rather than 3 bedroom condos.

by Dan H on Aug 15, 2012 1:08 pm • link • report

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