Micro-condos promoted as 'affordable luxury' real estate in Surrey

The developer of a 35-storey concrete tower in Surrey, B.C., is the latest to jump into the small-home trend, with suites as small as 316 squarefeetoffered to buyers for $93,900.

They're being billed as "affordable luxury," and a way to purchase something for under $100,000 in Greater Vancouver's hot real estate market.

"It is a perfect suite for bachelors, or single people or if you're just trying to get into the market," said Bill Morrison of Platinum Project Marketing, during a tour of the building's display suite.

Space-saving strategies include a clothes rack that slides out from the wall, rather than a traditional closet with opening doors. The display suite's couch pulls out into a bed.

"We're using the volume of the space, not just the square footage of the space," Morrison said.

The suite boasts stainless steel appliances, but on a smaller scale. The display fridge was filled with beer and pizza "typical of a student," said Morrison.

"To be honest with you, it's fairly small, but for the price, it's worth it," said Ramadan Eshref, who visited the sales centre and was considering buying a suite in the building for his son, a recent university graduate.

"For a single man like my son, for example, it's reasonable. Hopefully it will be a start for him."