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1. • 10 basis points

     • Combined with the second quarter of positive net absorption (408,000 sq. ft. in Q3 2024), overall vacancy came in only 10 basis points (bps) higher quarter-over-quarter. This minor increase was largely due to nearly 600,000 sq. ft. of new construction delivering partially vacant space in the third quarter.
     www.cbre.ca/insights/figures/toronto-downtown-office-figures-q3-2024

     Toronto Downtown Office Figures Q3 2024 | CBRE Canada

2. People also ask

   What is Toronto's office vacancy rate?

   • Despite the flurry of office leasing deals getting done in Toronto, the city’s central downtown office vacancy rate continues to rise, hitting 17.4% in the final quarter of 2023. That’s a new record high for the downtown office market. (Vacancy dipped slightly in the suburbs, to 20.3%).

   Toronto Outlook 2024 | CBRE Canada

   www.cbre.ca/insights/articles/toronto-outlook-2024

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   How did the vacancy rate change in the third quarter?

   • Vacancy continued to rise, increasing 50 bps during the quarter (and 330 bps year-over-year) to 12.5%. Once again, absorption was negative during the third quarter, as Downtown posted a decrease in occupied area of nearly 529,000 sf, compared with -456,000 sf during the second quarter.

   Greater Toronto office market report - Avison Young

   www.avisonyoung.ca/documents/56635302/56647756/GTA Office Market Report (Q3 2023).pdf

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   How did Toronto vacancy perform in the third quarter?

   • Positive absorption of 74,100 sf during the third quarter pushed vacancy in the North market down 70 bps to 12.5% (but year-to-date absorption remains negative at -108,300 sf). Meanwhile, occupied area continued to decrease in Toronto West and Toronto East, driving vacancy upward in both markets (+90 bps to 13% and +70 bps to 11.7%, respectively).

   Greater Toronto office market report - Avison Young

   www.avisonyoung.ca/documents/56635302/56647756/GTA Office Market Report (Q3 2023).pdf

   See all results for this question

   What is the vacancy rate in the Greater Toronto Area?

   • Urbanation’s report said the overall vacancy rate for the Greater Toronto Area was 4.6 per cent in the fourth quarter of 2020, up from 1.0 per cent a year earlier, as vacancy rates in the 905 region of the Greater Toronto Area rose to 2.0 per cent for the quarter compared with 0.8 per cent in the fourth quarter of 2019.

   Urbanation report says apartment vacancy in Toronto hit

   www.thestar.com/business/2021/01/18/urbanation-report-says-apartment-vacancy-in-toronto-hit-record-high-in-q4.html

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   What are Toronto office market trends in 2024?

   • We checked in with CBRE’s Downtown Toronto Research Manager Shekhar Bhardwaj to see what office market trends he’ll be tracking in 2024. The biggest thing I’ll be watching for is increasing vacancy and the rate of that increase. Vacancy keeps reaching new highs.

   Toronto Outlook 2024 | CBRE Canada

   www.cbre.ca/insights/articles/toronto-outlook-2024

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   How did the Midtown Market perform in Q2?

   • After a sharp rise in Q2, availability in the Midtown market retreated 120 bps quarter-over-quarter to end the third quarter at 18.9% (still up 450 bps year-over-year). Meanwhile, vacancy crept down 20 bps quarter-over-quarter to 12.7% (up 170 bps year-over-year).

   Greater Toronto office market report - Avison Young

   www.avisonyoung.ca/documents/56635302/56647756/GTA Office Market Report (Q3 2023).pdf

   See all results for this question

3. www.avisonyoung.ca › documents › dGreater Toronto office market report - Avison Young

   www.avisonyoung.ca › documents › d

   The availability rate in Downtown Toronto rose 90 bps quarter-over-quarter to 20% – an increase of 170 bps year-over-year. Vacancy rose as well, increasing 70 bps during the quarter (and 270 bps year-over-year) to 15%.

4. www.avisonyoung.ca › documents › 56635302Greater Toronto office market report - Avison Young

   www.avisonyoung.ca › documents › 56635302

   Availability remains stable while vacancy rises. Availability in Downtown Toronto remained flat at 17.5% quarter-over-quarter – nevertheless representing an increase of 280 bps year-over-year. Vacancy continued to rise, increasing 50 bps during the quarter (and 330 bps year-over-year) to 12.5%.

5. Videos

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     What is vacancy tax and how can it change Toronto’s housing market?

     25 Jan 2023

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     globalnews.ca

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6. www.cbre.ca › insights › articlesToronto Outlook 2024 | CBRE Canada

   www.cbre.ca › insights › articles

   • Cached

   Jan 22, 2024 · Despite the flurry of office leasing deals getting done in Toronto, the city’s central downtown office vacancy rate continues to rise, hitting 17.4% in the final quarter of 2023. That’s a new record high for the downtown office market. (Vacancy dipped slightly in the suburbs, to 20.3%).

7. www.bnnbloomberg.ca › business › politicsDowntown Toronto offices hit 18% amid signs of national ...

   www.bnnbloomberg.ca › business › politics

   Apr 2, 2024 · The latest Canada Office Figures report from CBRE shows Toronto’s downtown office vacancy rate climbed to 18 per cent in the first quarter of 2024, while the country as a whole hit 19.5 per cent thanks in large part to WeWork spaces coming back on to the market.

8. www.costar.com › article › 156063927National Downtown Office Vacancy Rate Hits All-Time High

   www.costar.com › article › 156063927

   • Cached

   Jan 11, 2024 · The real estate company said Toronto offices drove the national downtown vacancy rate to a record high of 19.4% in the fourth quarter, according to a report by CBRE. The downtown vacancy rate in...

9. nowtoronto.com › news › will-downtown-toronto-everWill downtown Toronto ever be the same? New stats show 30 ...

   nowtoronto.com › news › will-downtown-toronto-ever

   • Cached

   Apr 16, 2023 · The overall national office vacancy rate increased to 17.7 per cent over 2023’s first quarter, in downtown and suburban areas, according to a new report by the multinational commercial real...