Toronto Office Real Estate Outlook:
Despite volatile economic conditions entering 2023, leasing activity is expected to remain consistent, led by firms implementing back-to-work strategies. With no completions this quarter and several completions set for this year, it is likely that Downtown Toronto will see increases in vacancy as buildings are delivered, although, construction completions are expected to slow into 2024. As the current economic turbulence calms rising vacancy is expected to stabilize in 2024.
Download the JLL Research quarterly insights report for full analysis of office real estate market conditions in Toronto, and to learn more about economic activity impacting the outlook of the area.