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Flight to quality continues to dominate Canada’s office market

New forecast shows vacancy, rent growth posting best higher-end asset results
The Conservatory Group recently wrapped construction for its new suburban Toronto office building at 2143-2149 W Lake Shore Blvd. (CoStar)
The Conservatory Group recently wrapped construction for its new suburban Toronto office building at 2143-2149 W Lake Shore Blvd. (CoStar)
By Mario LeFebvre
CoStar Analytics
August 25, 2026 | 12:03 P.M.

Canada’s office sector is telling a story quite opposite to that of multifamily. While high-end apartments continue to suffer from elevated vacancy, higher-end office assets outperform, and this has been the case for quite some time.

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