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Vancouver Commercial Real Estate

Canada's Office Vacancy Rate Slows

The proportion of empty office space in Canada continued to grow in Q2 2014—rising to 10.4%. But the vacancy rate is slowing after a "prolonged period of lacklustre leasing activity," according to a report from CBRE, with more office space coming off the market in Q2 than at any time in the past two years. (You can finally stop growing that vacancy-rate-protest beard you were growing.) Toronto, Vancouver, and Montreal all saw more office space leased than was put on the market. "We're about back to where we should be," CBRE research director Ross Moore tells us, indicating that an improving US economy is inspiring confidence. "So we should be seeing occupied space increase."

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