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Why Toronto’s office supply keeps going up, despite a cooling market

Timeline needed to deliver new office space limits developers' ability to respond to market changes
Rendering of CIBC Square. The second phase will add almost 1.5 million square feet of office space to the city in 2025. (CoStar)
Rendering of CIBC Square. The second phase will add almost 1.5 million square feet of office space to the city in 2025. (CoStar)
CoStar Analytics
January 10, 2025 | 7:50 P.M.

The Greater Toronto Area (GTA) office market added a significant amount of new office space in 2024, despite a general decline in demand, and more is set deliver in the coming years.

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