New data from Urbanation Inc. shows rental construction accelerated sharply in Q4‑2025, with 9,821 purpose-built rental units breaking ground—up 42 per cent from 2024 and the highest annual total since the 1970s. By year-end, the number of purpose-built rentals under construction across the GTHA climbed to 27,815, a 77 per cent increase over the past five years. Purpose-built rental completions also reached a more than 40‑year high, with 6,379 units delivered in 2025. This included 23 buildings completed in 2025, 14 completed in 2024, and seven completed between 2022 and 2023. Purpose-built rentals also faced mounting competition from the condo rental market, where rents continued to fall.