• CoStar forecast sees Canada’s office vacancy rate falling to 8.7% by end-2028, from 9.8% in Q2 2026.
• National vacancy peaked at 10.4% in Q2 2025; forecast calls for 9.3% by end-2027.
• Decline driven mainly by a thin development pipeline, not a demand surge; net absorption seen modest through 2028.
• Net absorption forecast averages 1 million square feet per quarter in 2027, rising to 1.75 million in 2028.
• Deliveries expected to drop to 200,000 square feet by end-2027 following a 2026 peak led by Toronto’s CIBC Square phase two.
• Higher-end offices continue to outperform; rent growth forecast at 4% versus about 2% for other assets.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CoStar Group Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20260914659483) on September 14, 2026, and is solely responsible for the information contained therein.