Chart of the Day: Tiny condo units took up 80% of new sales in Q3

The percentage of units smaller than 500 sqft climbed to 15.1%.

This chart from Edmund Tie Research showed that smaller units or units smaller than 1,000 sqft accounted for 81.7% of total new sales. This was said to be likely caused by its more affordable price quantum.

The proportion of condo units smaller than 500 sqft climbed to 15.1% from 13.6% in Q2, and those of units sized between 700 to 1,000 sqft grew to 33.5% from 30.3% over the same period. However, the proportion of all other unit sizes declined.

As such, there was a higher share of units priced under $1.5m. In particular, units between $1m and $1.5m rose substantially to 47.1% from 40.7% from the previous quarter.