The GTA office market is officially staging a comeback. According to CBRE’s Q2 2026 data, the national office vacancy rate has dropped to 17.1%, marking a full year of sustained recovery. Toronto is at the forefront of this shift, leading the country in net absorption alongside Calgary and Montreal.
Perhaps most notable for investors is the tightening of premium supply. With Toronto’s AAA office vacancy rate now sitting at a razor-thin 2.6%, demand is rapidly spilling over into Class A and B assets. This ‘trickle-down’ effect is further accelerated by a near-total halt in new construction and the removal of over 12 million square feet of aging inventory for conversions. For a deeper look at how this supply crunch is fueling a 262% surge in year-on-year investment, read the full report at https://www.mpamag.com/ca/specialty/commercial/canadas-office-market-posts-full-year-recovery-leaving-pandemic-woes-behind/581471.
Source: Read the original article
