First quarter market statistics providing key market indicators for the Halifax office real estate market.
- The overall vacancy rate within the Halifax office market rose to start the year, gaining 70 basis points from last quarter to 16.8%.
- Downtown Halifax continues to be a tenant’s market largely due to the oversupply of office space across all classes.
- Construction continues to thrive with both ongoing and new developments, such as Queen’s Marque, and Westway Park leading to a promising sign of economic growth over the next several years.
