Toronto Condo Vacancy Problem, Where Are the People?
The skyline of Toronto tells one story. The streets below tell another.
In our latest Real Estate Rewired feature — “Where Are the People?” — we look past the glass towers and sleek developments of downtown to ask a haunting question: Toronto Condo Vacancy problem, why are so many of these condos sitting empty?
It’s a question with big implications — for investors, buyers, renters, and the future of the city.
Tens of Thousands of New Units. But Where’s the Life?
Between 2020 and 2023, Toronto approved more than 92,000 condo units. Cranes filled the skyline, and investor demand soared. The city looked like it was scaling up for an urban boom.
But now, in early 2025, a different picture is emerging in the real estate market.
Despite the construction surge, vacancy rates in the downtown core have risen to 5.4% — a figure that’s both rare and revealing. In communities like CityPlace, buildings are dark at night. Businesses that once thrived on foot traffic — like a Fort York café and local dry cleaner — have closed. Toronto Condo Vacancy is a real concern.
The people just aren’t there.
The short film captures this visually and emotionally, pairing stats with eerie footage of quiet towers and empty sidewalks. It’s not just about real estate anymore — it’s about what happens when a city builds housing without building community. It puts a magnifying glass on the Toronto Condo Vacancy problem.
When Investment Overpowers Intention
One of the key reasons for the Toronto vacancy problem is speculative ownership. Many of these units weren’t purchased to live in — they were bought to flip or rent.
But the math stopped working.
As interest rates climbed and rents peaked, cracks began to show. Renewals spooked some owners. Others chose to keep units empty, waiting for a resale window that may never come.
The result? A glut of underused housing, and a ripple effect across the urban core causing a Toronto Condo Vacancy problem.
Buyers Want More Than Square Footage
The good news — if there is one — is that buyer behaviour is shifting in a healthy direction.
Today’s buyers are increasingly moving away from towers and toward places that feel like home. They want more than a view — they want vibrancy. More than amenities — authenticity.
“Streets with sound. Neighborhoods with life,” as the narrator puts it.
It’s a rejection of sterile condo living and a return to real connection — the kind that can’t be engineered by marketing or staging.
A Community Without People Isn’t a Community
This isn’t just a market story — it’s a human story.
At its core, “Where Are the People?” is about the emotional emptiness that can follow physical development. It asks us to think beyond inventory and pricing, and consider the social architecture of the places we build, and take a closer look at the Toronto Condo Vacancy problem.
Because a condo without people is just a container, a room with 4 walls. It doesn’t pulse with culture, sound, or belonging.
And for many, that realization is changing how — and where — they choose to live.
LifestyleVideos.com: A Different Lens on Real Estate
At LifestyleVideos.com, we believe real estate should be about real life. That’s why we tell stories like this — not to criticize, but to uncover the truths shaping how people live, move, and find meaning in their space.
This isn’t just about vacancy rates. It’s about vision. And the kind of future we’re building, one home at a time.
For expert insights on the Toronto Condo Vacancy problem, home values, market trends, selling strategies, staging advice, negotiating tips and real estate videos, visit LifestyleVideos.com to browse properties, real estate videos, neighbourhoods insights, real estate market trends, and connect with local agents.
Curious how a Trade War could impact housing and interest rates? Watch our feature, Housing Prices & the Impact of a Trade War, streaming now!
