COVID-19 related concerns are encouraging some Toronto residents to consider moving to the 905 area and beyond. Some office space users are also considering relocating at least part of their operations to the 905 area in the form of satellite offices, both in an effort to reduce lengthy commutes for suburban employees who are now working more at home and to reduce office space costs.
The pandemic, however, only accelerated trends that were already underway. The real estate market indicators we reviewed show that the shift in the GTA resale and new housing sales to the 905 area, as well as in office space absorptions, started before COVID-19.
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