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Condos – what most people know as apartments – vary in number and availability in Vancouver West Side neighbourhoods. Overall, there are more than 7,500 one-bedroom condos (twice the number of studio, or bachelor, units). They’re most common in Kitsilano and UBC, while a lack of new multifamily development has made them relatively more scarce in Point Grey and Dunbar.
One-bedroom apartments are favoured most by singles, often young professionals. While a studio might be affordable, a one-bedroom is ideal for those living alone (or living together, alone, without kids). An apartment is an ideal pied-à-terre for some, and a launching pad into the city for those just getting started in their careers (for many urban professionals, it’s the equivalent of the starter home). The younger, independent demographic these units appeal to means they’re often found in the more active neighbourhoods – adjacent to key corridors such as West 4th, Broadway and West 10th, or in the heart of the UBC campus. These are units where the action is, and close to recreational amenities including Kitsilano Beach, cycling routes and restaurants.
Since purchasers are typically buying solo, the units are also geared to be more affordable. While many offer upscale finishes, they’re at prices cheaper than a single-family house or attached dwelling. Spaces are usually 750 square feet or less, enough to breathe easy in but not get lost. Vancouver rents make smaller units an attractive option for parents with children at university; when the kids graduate, the apartments may in turn be good long-term income properties (just make sure you rent them out, given Vancouver’s recent decision to tax properties that aren’t substantially occupied).
One point for outdoor enthusiasts: while many older condos come with storage space for golf clubs, skis and bikes, newer units are less likely to include these. Many do feature bike lockers, but purchasers of one-bedroom apartments will want to make their lives fit in the limits provided.
