Why? They are an excellent way to make money in the Cranbrook real estate market with a smaller cash investment. You also do not have to worry about maitenance. When spending the same amount of money on a house in Cranbrook, you are looking at a house that will definitely have maitenance to be done and at a higher cost. You do have to pay a strata fee with a condo or townhouse, but your maitenance is taken care of and so you will know what your monthly expenses are as opposed to owning an older home that you will not know what kind of expenses may be lurking around the corner. Most of the condos and townhouses in Cranbrook are also very close to the College, Hospital and ameneties. Students and retirees prefer these areas. Easy to rent. The rental vacancy is very low in Cranbrook and you can obtain a good rent now. Your rent pays for your expenses ie. mortgage payment, property taxes and strata fees. You sit on it until the market goes up or you have paid down your mortgage and you sell it and wola! You've made money with little hassle.