Royal Gardens - II (Palace Building) — Rental Market Data

Royal Gardens – II (Palace Building) carries exactly one active listing as of August 31, 2026, asking $2,150 per month with both the average and median rent at that same figure. The available suite spans 550 square feet at $3.91 per square foot, and the 100 percent layout share falls entirely in the one-bedroom tier. With only a single unit on the market, inventory leans toward compact entry-level configuration rather than multi-bedroom executive layouts, and renters should monitor the broader Richmond Hill submarket's 94 active listings for additional options.

The dominant and sole active layout at Royal Gardens – II (Palace Building) is the one-bedroom, representing 100 percent of the building's available inventory with a single listing. That one unit asks $2,150 per month across 550 square feet, pricing out to $3.91 per square foot. No two-bedroom, three-bedroom, or studio tiers currently carry active listings, making this a single-transaction sample rather than a diversified layout offering.

Royal Gardens – II (Palace Building) shows a minimum entry rent and peak asking rent of $2,150 per month, producing a dollar spread of zero and a percentage spread of zero percent due to the single active listing. The entry-level suite is a one-bedroom at 550 square feet and $3.91 per square foot, which is also the peak suite in this instance. With only one unit available, there is no internal price gradient for renters to navigate within the building itself.

Royal Gardens – II (Palace Building) has no quantified den premium or square-footage delta for its active inventory, as the sole listing is a standard one-bedroom without a separate den configuration. Marginal cost per square foot for additional den space therefore cannot be calculated from current data. Active parking stall premiums also cannot be reliably isolated from the available sample, and no verified parking add-on cost can be quoted for this building at this time.

Royal Gardens – II (Palace Building) asks $2,150 per month at $3.91 per square foot, compared to the Richmond Hill submarket's average asking rent of $2,800 and asking rate of $3.82 per square foot. The building's nominal rent is $650 below the submarket average, but that gap is explained by the active suite's 550-square-foot footprint being more compact than typical submarket listings; on a per-square-foot basis, the Palace Building actually commands a 2.4 percent premium over the submarket asking benchmark. The building represents one out of 94 available listings in the Richmond Hill submarket, a share of roughly 1.1 percent of total active inventory.

The Palace Building's average realized lease rent of $2,308 per month sits $213 below the four-comparable benchmark of $2,521, with the gap driven primarily by its smaller suite footprints rather than a weaker rate per square foot. Royal Gardens – II (Crown Building) at 372 Highway 7 E, 0.02 km away, recorded 15 closed leases averaging $2,289 per month at $3.64 per square foot across 635-square-foot suites; the subject's rent is $19 higher than this nearest peer. Valleymede Towers – Building A at 396 Highway 7 E (0.08 km) closed 9 leases at an average of $2,622 per month, $3.52 per square foot, and 758 square feet, placing the subject $314 below that benchmark. Royal Gardens – I at 370 Highway 7 E (0.13 km) logged 13 closed leases averaging $2,456 per month at $3.57 per square foot over 703 square feet, with the subject trading $148 lower. Valleymede Towers – Building B at 398 Highway 7 E (0.13 km) recorded 9 closed leases at $2,717 per month, $3.44 per square foot, and 794 square feet, making the subject's rent $409 below that competitor. All four comparables posted positive lease volume over the trailing 180 days, so each figure reflects realized transactions rather than asking-price speculation.

The Palace Building commands a per-square-foot premium over every active competitor in this pocket while offering fewer interior square feet, a trade-off that compresses the total monthly bill for budget-sensitive renters. Against Royal Gardens – II (Crown Building) at 372 Highway 7 E (0.02 km, 15 closed leases), the subject trades at a $0.28 per square foot (7.7%) premium yet provides 27 fewer interior square feet, so the $19-per-month rent advantage over the Crown is a footprint effect, not a rate concession. Valleymede Towers – Building A at 396 Highway 7 E (0.08 km, 9 closed leases) shows the sharpest contrast: the subject commands a $0.40 per square foot (11.4%) premium while delivering 150 fewer square feet, which explains why the nominal rent lands $314 below Valleymede A despite the higher unit rate. Royal Gardens – I at 370 Highway 7 E (0.13 km, 13 closed leases) presents a $0.35 per square foot (9.8%) subject premium with 95 fewer square feet, keeping the subject's total rent $148 lower. Valleymede Towers – Building B at 398 Highway 7 E (0.13 km, 9 closed leases) widens the gap further: a $0.48 per square foot (14.0%) premium and 186 fewer square feet put the subject $409 below that competitor's realized rent. Across all four active peers, the pattern is consistent—the subject's smaller suite footprint is the sole driver of its lower nominal rent, while its rate per square foot remains the highest in the immediate cluster.

The Palace Building fields a ten-item lifestyle package anchored by an indoor pool, golf simulator, and rooftop terrace, positioning it as a mid-tier amenity offering that trails the 2020 Valleymede towers on professional and recreational breadth but matches or exceeds the 2014 Royal Gardens peers on aquatic and leisure features. The indoor pool is a signature differentiator absent from both Valleymede Towers – Building A and Building B, which substitute a yoga studio, games room, and business centre for wet-area recreation; the Crown Building offers an outdoor swimming pool and hot tub in place of the subject's enclosed aquatic suite. The golf simulator, shared with the Crown Building, is entirely absent from both Valleymede towers and Royal Gardens – I, giving the Palace a niche leisure edge for tenants who prefer on-site practice over a gym-only routine. Conversely, the subject lacks the business centre, library, dining room, and games-and-billiards room that define the Valleymede A and B lifestyle packages, as well as the media-and-theatre room found at Royal Gardens – I. The resulting profile—indoor pool, sauna and steam room, golf simulator, meeting room, rooftop terrace, BBQ area, and garden courtyard without dedicated co-working or dining infrastructure—best serves cost-conscious professionals and small households who prioritize aquatic recreation and a low-maintenance social space over the full-service, work-from-home amenity suites of the newer Valleymede product.