Urbanation research.

Ontario Student Housing Deliveries Set to Reach Record in 2026

Slowest Condo Market in Over 30 Years Causing Construction to Collapse

New condominium apartment sales in the Greater Toronto and Hamilton Area fell 60 percent in 2025 to just 1,599 units, the lowest annual total since 1991. A record 28 active condo projects totalling 7,243 units were cancelled during the year.

Nearly 10,000 GTHA Rentals Started Construction in 2025

A total of 9,821 purpose-built rental units started construction in the GTHA in 2025, a 42 percent increase over 2024 and the highest annual total since the 1970s. Purpose-built rental completions reached a more than 40-year high of 6,379 units.

GTHA Rental Projects Forge Ahead in Q3 Despite Declining Rents

Urbanation reports purpose-built rental projects continued to advance in the third quarter of 2025 even as average rents declined. The vacancy rate for buildings completed since 2000 rose to its highest level since 2020.

Two-Thirds of Rental Buildings Offering Incentives in Q2

Among GTHA purpose-built rental projects completed since 2000, a 65 percent share offered incentives to renters in the second quarter of 2025, up from 36 percent a year earlier. The data signals softening rental conditions amid new supply.

Completed Condo Inventory Swells to Record High in Q2

Urbanation reports completed but unsold condominium inventory in the GTHA reached a record high in the second quarter of 2025. The data reflects a sharp slowdown in new condo sales and rising standing inventory.