Sustained demand for commercial property in Toronto is promising to feed into a virtuous cycle of more business and investment, in turn further driving the city\u2019s flourishing commercial market, according to a new market overview by RE\/MAX.<\/p>\n
\u201cAs Canada\u2019s global business hub, with many companies headquartered in the heart of downtown, there are plenty of job opportunities. The city is also a great place for entrepreneurs with its many business incubators,\u201d RE\/MAX explained.<\/p>\n
A study by Startup Genome found that as of 2018, Toronto is one of North America\u2019s largest financial services hubs, playing host to 360,000 employees and 12,000 firms.<\/p>\n
The figures dovetailed with PwC\u2019s analysis covering the same year, which reported that Toronto\u2019s tech ecosystem is the best in Canada. In 2018, the city saw a total of $1.7 billion raised across 160 deals \u2013 a volume equivalent to the combined performances of Vancouver and Montreal.<\/p>\n
At present, the market\u2019s office vacancy \u2013 which is the most in-demand asset class among the multiple tech companies that have taken root in the city \u2013 is around 1%.<\/p>\n
\u201cIf you look at Manhattan, Chicago, Washington, San Francisco, Boston, Pittsburgh, Atlanta, Miami [and] Phoenix as all major central business districts within North America, Toronto has the lowest vacancy rate of all of them,\u201d Colliers International (Toronto) senior managing director Daniel Holmes told Postmedia.<\/p>\n
Recent Colliers data indicated that around 9.4 million square feet in new offices is currently being built in the GTA alone. A significant proportion of these new developments is slated for completion either by next year or by 2021.<\/p>\n
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Sustained demand for commercial property in Toronto is promising to feed into a virtuous cycle of more business and investment, in turn further driving the city\u2019s flourishing commercial market, according to a new market overview by RE\/MAX. \u201cAs Canada\u2019s global business hub, with many companies headquartered in the heart of downtown, there are plenty of […]<\/p>\n","protected":false},"author":5,"featured_media":18889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8377"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=8377"}],"version-history":[{"count":1,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8377\/revisions"}],"predecessor-version":[{"id":21966,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8377\/revisions\/21966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/18889"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=8377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=8377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=8377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}