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Toronto’s major employers—including civil service, banks, telecoms—are increasingly enforcing return-to-office (RTO) mandates: four to five days a week by late 2025 or early 2026. Office occupancy has been rising, with mid-week more populated (e.g. Wednesdays near 88%) but Fridays still weak. The shift to call employees back reflects broader labour market pressures: job openings are fewer, layoffs more common, unemployment up, giving employers more leverage.

These RTO mandates are expected to ripple into the housing market by increasing demand for housing closer to downtown cores. People who moved farther out into the suburbs during remote-work years may reconsider long commutes, boosting interest in downtown rentals and condos. Outer, second-ring suburbs—those further from the core—face the most risk of price softness as distance becomes more of a cost. First-ring suburbs (e.g. Mississauga, Vaughan, Markham, Richmond Hill) with better transit and proximity may fare better.

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