The stability of the Greater Victoria office market continues in Q1 2022, with overall vacancy decreasing from 6.8% in Q4 2021 to 6.2% in Q1 2022.
- Vacancy reduced this quarter due to active leasing in both the Downtown and Suburban markets.
- Investment in office buildings with strong and reliable tenants has been active during the beginning of 2022. Notably, buildings that have long-term government tenants have been targeted by institutional investors.
