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Research

Victoria Office Market Report Q2 2019

Victoria Office Market Report Q2 2019

Victoria Office Market Report Q2 2019

Victoria office vacancy decreased significantly from last year as market demand remains steady.

  • Vacancy rates decreased 2.4% from last year with steady demand for office space. 
  • The public sector comprised of 31% positive absorption while pre-leasing majority of new class AA office developments.Rents remain stable with suburban class A office not far behind downtown class A rents largely due to lack of available large floor plates and parking. 
  • Tenants search for new high quality office premises as class C office is at the highest vacancy of 12.8%.

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