Price per square foot in pre-construction: how to use it properly

Price per square foot (PSF) is the price divided by the unit's size. It is useful only when you compare like with like.

Calculate it the same way

• Use the interior size from the floor plan, and note how the builder measures it.
• Leave balconies and terraces out of the size, and compare them separately.
• Add the cost of parking and a locker if they are not included.

Why small units cost more per foot

Every unit needs a kitchen and bathroom, the most expensive rooms to build. A 450 sq ft studio will always have a higher PSF than a 900 sq ft two-bedroom in the same building.

Compare fairly

• Same building type (high-rise vs mid-rise vs towns)
• Similar unit size and bedroom count
• Similar floor and view (higher floors carry premiums)
• Same neighbourhood or one with similar transit and amenities

What PSF does not tell you

Deposit structure, closing-cost caps, maintenance fees, the builder's record and the layout's efficiency. A slightly higher PSF can be the better buy if the layout uses space well.

Read how to read floor plans, or book a call for a PSF comparison of the projects you like.