GTA Flash Report 2020

Getting below the surface in Greater Toronto Area’s commercial and residential real estate market

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Report Highlights

Key findings from Altus Group’s annual review of the Greater Toronto Area real estate markets.


  • Total investment property sales volumes in the Greater Toronto Area rebounded in 2019 to $22.6 billion, the 2nd highest annual volume yet recorded by Altus Group.
  • The Industrial and Apartment sectors were the biggest contributors to increased investment property sales volumes in
    the GTA in 2019.
  • The decline in total Residential Land sales volumes was led by Low Density land sales.
  • The $640 million purchase of the Atrium on Bay contributed to another record year for Office transactions in the GTA.


  • Demand for industrial space continues to outstrip new supply.
  • Office vacancy rate approaching pre-recession levels.
  • Tight Downtown submarket is home to overwhelming majority of space under construction.


  • After a slow start to the year, total new home sales in the GTA rebounded in 2019, up 47% from 2018.
  • The gap in the benchmark price for a new single-family home and a new condominium apartment in the GTA continued to narrow in 2019.
  • Relatively low new condominium apartment inventories driving price increases.


  • More hesitation in homebuying intentions.
  • Most younger renters would like to own a home someday.
  • Not all younger households are being priced out of homeownership.

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