Condo Demand Increasing

The article highlights the increasing demand for condominiums in Nova Scotia, with more buyers opting to own rather than rent due to a lack of residential inventory. Young professionals find condominiums appealing for their convenience and mixed-use buildings, while empty nesters are purchasing condos in desired locations to get ahead of rising prices. Condo corporations need to adapt to the changing dynamics with young occupants and more rental units. The surge in demand has resulted in higher condo prices, as evidenced by statistics from the Nova Scotia Association of Realtors comparing prices from January 2019 to April 2022.