May 20, 2021
Downtown office boom fueling residential demand?
Our very own teammate, Andre Alie Day, was recently featured in an urbanYVR interview with Shawn Brown, a Vancouver residential broker at West Haven Group. The two discussed downtown Vancouver’s current office tower boom and how it could affect residential real estate prices in Downtown Vancouver. Click here to visit urbanYVR’s website to read the full article.
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Vancouver Office MarketView Q4 2022
Metro Vancouver’s vacancy rate increased for the second quarter in a row, growing 120 basis points (bps) quarter-over-quarter to 7.8%.
Vancouver Office MarketView Q4 2021
Vacancy rates for all classes of office product in Metro Vancouver decreased by 40 basis points (bps) to 7.0% in Q4 2021 2021. Even though 543,000 sq. ft. of new office inventory was introduced this quarter, nearly three-quarters were pre-leased prior to construction completion.
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Vancouver office vacancy rates experienced its fourth consecutive quarter of downward pressure with suburban markets continue to spearhead this decrease. Sustained demand within these markets could push vacancy rates below the record low of 4.5%, which was last recorded in Q4 2019.
