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Canadian Office Market Outlook 2012

Expectations for the office market in 2012 remain contingent on global economic conditions. Domestically, limited new supply delivery will help insulate the office market this year ahead of uncertainty in Europe and the United States. However, markets like Toronto, which has added 7.4 million square feet since 2009 and accounts for roughly 40.0 percent of all new supply during the last 12 quarters in Canada, still have significant residual vacancy.

Overall, vacancy will hover around the 7.0 percent mark for much of the year with increased demand in the second half possibly pushing national vacancy levels to sub-7.0 percent for the first time since 2008.​

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