Vancouver Office Figures Q4 2023
Market Highlights Following a period of significant development, the office pipeline is lightening, with some suburban projects on hold until economic uncertainty clears. Class B net absorption has been negatively impacted downtown due to the transition out of older...
Vancouver Office Figures Q3 2023
Market Highlights Metro Vancouver’s vacancy rate increased for the fifth consecutive quarter, growing 60 basis points (bps) to 9.6% and presently stands 180 bps above the 10-year historical average of 7.7%. Downtown overall vacancy increased 30 bps to 11.8%, driven by...
Vancouver Office Figures Q2 2023
Market Highlights Metro Vancouver’s vacancy rate increased for the third quarter in a row, growing 70 basis points (bps) to 9.0% and presently stands 120 bps above the 10-year historical average of 7.8%. Total sublease vacancy was recorded at 1.3 million sq. ft., a...
Vancouver Office Figures Q1 2023
Market Highlights Metro Vancouver’s vacancy rate increased for the third quarter in a row, growing 60 basis points (bps) to 8.4%, and presently stands 60 bps above the 10-year historical average of 7.8%. Following a quarter of negative net absorption coupled with the...