NAIOP Greater Toronto, a commercial real estate industry association, commissioned a report from Altus Group Economic Consulting that forecasts an oversupply of office space in the Greater Toronto Area for the next 20 years. The study found that office availability rates are rising due to a loss in leased space of 5.3 million square feet since the start of the pandemic. It also found that developers are getting nervous about new investments, and city policies encouraging or requiring inclusion of non-residential gross floor areas are making projects unfeasible. The report suggests that employment space policies should be reviewed in order to address this issue.