The stability of the Greater Victoria office market continues in Q4 2021, with overall vacancy decreasing from 7.3% in Q3 2021 to 6.8% in Q4 2021.
- Vacancy reduced this quarter due to the absorption of new supply that was added in the previous quarter.
- Investment in office buildings with strong and reliable tenants has been prevalent throughout 2021. Notably, buildings that have long-term government tenants have been targeted by institutional investors.