Marcus & Millichap

Toronto Local Apartment Report

Second Quarter 2019

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Robust Immigration Trends, Job Gains Position Rental Market for Strong Growth

Toronto has become a major contender for tech companies in search of top-rated talent, leveraging an open immigration policy, artificial intelligence and machine learning programs at highly rated universities, and government subsidies and other resources. Canada’s welcoming approach to immigration motivated Microsoft, Amazon, Intel and many other tech firms to open new offices in the GTA with plans to hire thousands of young professionals over the next several years. The local job market is already off to a strong start this year with employers creating 52,600 jobs in the first quarter, pushing year-over-year gains to 98,300 positions, a 2.9 percent pace of growth. One year earlier, payrolls expanded by 2.5 percent.

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