COVID-19 continues to impact the Canadian commercial real estate industry, although Q4 2020 has brought good news on the vaccine front. Wide distribution of the vaccine in the first half of 2021 may remove some of the overall economic uncertainty, but we are not in the clear yet and some asset types will take longer to rebound than others.
Colliers Canada is pleased to present our 2020 Q4 National Market Snapshot, with national statistics and regional market insights including vacancy rates and average net asking rents for office and industrial fundamentals in 11 key markets across Canada.
Key findings from the report include:
• One in 10 offices in Canada were vacant in Q4;
• The average asking rent price for offices in Q4 2020 was the highest since the same period in 2019, reaching a high of $17.72 per square foot;
• The Canadian industrial market remains stable with an average vacancy rate of 2.2% across the country
Download the full report for more insights.
View the official News Release here.