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CoStar Insight

Toronto’s office recovery isn’t one size fits all

A softening in demand appears to be ending, but full recovery remains far from assured
Toronto's skyline with 160 Front Street pictured at center. (CoStar)
Toronto's skyline with 160 Front Street pictured at center. (CoStar)
CoStar Analytics
November 26, 2025 | 4:47 P.M.

Investor sentiment toward the office market has become more positive, spurred by the Ontario provincial government’s worker mandate of five days of in-office attendance starting in January and major banks signaling a full return of staff to the workplace. But the office performance narrative is far more complex.

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