Q2 2026 TORONTO OFFICE MARKET REPORT

GTA office vacancy declined for the second consecutive quarter to 16.1%, while net absorption remained positive through the first half of 2026, driven by Class A space in the Financial Core.

One of the most notable shifts is that the long-running "flight to quality" is beginning to reach its limits. With premium downtown space becoming harder to find, many occupiers are expanding their search to core-adjacent and suburban locations that offer strong amenities, transit access and better value.

We're also seeing changing commuter patterns influence office decisions. GO Transit ridership has increased 40% since 2023, reinforcing the growing appeal of well-connected suburban office locations.

Download the full Q2 2026 Toronto Office Market Report to explore these trends and what they could mean for occupiers planning a lease renewal, relocation, or workplace strategy.