The perks, peace of mind and convenience of condos are making them more popular than ever in Ottawa, according to one real estate expert.
Marnie Bennett said Friday that condominiums are driving Ottawa's real estate market.
"people prefer condos now because of the lock and leave (aspect), and the opportunity to have more amenities than they would normally afford," she said. "I also think safety is a feature too because a lot of single women like that opportunity."
The average price for a home last year was just under $380,000, while a condo was almost $262,000 – an increase of about six per cent since last May.
Bennett said condos provide a transition from the suburbs to the downtown core.
"We are getting downsizers, they're not ready (for a home) yet because when you're buying from the ground up it takes two to three years for them to build," she said. "We're also having a lot of young people."
Potential buyers have an appreciation of the good and bad of buying a condo.
"I seriously wouldn't want to stack a hefty condo fee of three, four, maybe five hundred dollars a month just in fees," said Brendan Carroll.
"The freedom to come and go as you please, the privacy, great balcony, great view," said Louis Freve.
Adding to the popularity of condos is the recovering real estate market as a whole. The Canadian Mortgage and Housing Corporation said last year the market went from a seller's market to a more balanced one, and is expected to remain that way this year.
With a report from CTV Ottawa's Katie Griffin
