Five-year property trends show rentals and small business driving commercial growth in Ontario

Ontario's multi-residential sector is the fastest-growing business property group, with development reaching levels not seen since the 1970s, driven by high-rise and walk-up apartments. Office development slowed, focusing on medical and dental buildings, with rising vacancy rates. Small commercial growth is modest, mainly one-storey retail. Standard industrial growth accelerated, led by warehouse expansion supporting logistics and e-commerce.