Between 2020 and 2023, the net absorption of office space in Toronto increased , but remained negative at -3.58 million square feet. Although the increase is a sign that the market is recovering from the coronavirus (COVID-19) pandemic, the negative rate shows that leasing activity is still behind. Net absorption is the total amount of space which tenants moved into minus the total amount of space which tenants moved out of during a specific period. According to the national forecast, office absorption is expected to further increase in 2024.
Net absorption of office space in Toronto, Canada from 2016 to 2023 with a forecast for 2024
(in million square feet)
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CBRE Group. (February 26, 2024). Net absorption of office space in Toronto, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/953933/net-absorption-office-toronto/
CBRE Group. "Net absorption of office space in Toronto, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet)." Chart. February 26, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/953933/net-absorption-office-toronto/
CBRE Group. (2024). Net absorption of office space in Toronto, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/953933/net-absorption-office-toronto/
CBRE Group. "Net Absorption of Office Space in Toronto, Canada from 2016 to 2023 with a Forecast for 2024 (in Million Square Feet)." Statista, Statista Inc., 26 Feb 2024, https://www.statista.com/statistics/953933/net-absorption-office-toronto/
CBRE Group, Net absorption of office space in Toronto, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet) Statista, https://www.statista.com/statistics/953933/net-absorption-office-toronto/ (last visited November 21, 2024)
Net absorption of office space in Toronto, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet) [Graph], CBRE Group, February 26, 2024. [Online]. Available: https://www.statista.com/statistics/953933/net-absorption-office-toronto/
