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National Market Snapshot Q1 2022

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research article

Q1 was a tale of two halves for many across Canada. The Omicron variant took its strongest hold, causing certain regions to reinforce restrictions, early in Q1. As the quarter ends, and Canada enters year three of living through the COVID pandemic, there is a renewed sense of normalcy on the horizon as municipalities continue to lift previous mandates.

  • While a broader scale return-to-office plan was put on hold by many companies in Q1, it is expected these companies will put that plan back into action later this year. There is optimism towards the office sector in 2022, as half of the tracked markets either saw a flattening of their vacancy rate or even a decrease quarter-over-quarter.
  • A growing trend in some of the major industrial markets is seeing active listings not having a posted asking rent. With low availability across the board, landlords are in a position where they can simply field offers from prospective tenants and lease these coveted spaces to the highest bidder.
  • Supply chain disruptions have continued into 2022. Many factors are perpetuating the issue, including higher shares of e-commerce sales, global container shortages, and a lack of robust transportation methods, among others. While the disruptions are expected to continue in 2022, there should be a gradual easing over time.

National Market Snapshot 2021Q1 Search

National Market Snapshot Q1 2022

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For More Information, Please Contact:

Leo Lee

Director, National Research Operations | Canada

Toronto West

Leo Lee is the Director of National Research Operations | Canada and oversees the strategic direction and operations of Colliers Canada Research. He focuses on developing the capabilities of the national research team that leverages Colliers' best-in-class market intelligence and platforms to provide clients with valuable market insights.

Leo joined Colliers International in 2008 and was most recently the Regional Director of Research for Eastern Canada.

He has over 10 years of experience in the real estate market across Canada and New Zealand and draws on his professional experience as a commercial appraiser and real estate consultant.

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Max Shapinko

Research Operations Specialist | Canada

Toronto North

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