The Metro Vancouver office market continues to see downward pressure on vacancy rates while we await the completion of new supply.
- Since the 2015 build cycle, the overall Metro Vancouver vacancy rate has dropped from 10.4% in Q4 2015 to 3.8% in Q1 2019.
- Total absorption in Metro Vancouver between Q4 2015 and Q1 2019 was over 4.5 million square feet.
- The downtown core accounts for 38.8% of that absorption at 1.78 million square feet.
