The Greater Victoria office market continued its stable performance relative to other Canadian markets throughout the pandemic with overall vacancy increasing from 6.1% in Q1 2021 to 7.3% in Q2 2021.
- Class A space has continued to be a bright spot in the office environment, accounting for only 11% of the overall office vacancy.
- To date, there has been limited sublease space offered to the market, with the current sublease availability totaling 45,407 square feet, representing only 7.0% of the total vacant space available.
