CBRE: Toronto overall office vacancy rate up from 10.7% to 11.7% in 2016

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In its 2016 Canadian Market Outlook report, CBRE noted that the overall vacancy rate for offices across Toronto is expected to rise from 10.7% in 2015 to 11.7% in 2016. The Class A Net Rental Rate is expected to rise from CAD20.81 per square foot to CAD21.61 per square foot. Net absorption is expected to increase from -0.56mn square feet to 1.01mn square feet. New supply is expected to grow from 1.36mn square feet to 2.90mn square feet. Stock that is under construction should fall from 5.03mn square feet to 2.13mn square feet.

Source : December 2015/CBRE/Toronto/OFF