Even though 2021 was impacted by COVID-19 uncertainties, the Winnipeg office market remained fairly stable in terms of overall vacancy rate; starting at 12.9% in Q1 2021 ending the year at 13.2%.
- Downtown experienced an increase in vacancy overall this quarter, increasing by 40 basis points from 13.6% to 14.0% in Q4 2021.
- Despite COVID-19 and adding 193,750 square feet of new supply this past year (equal to approximately a 4% increase in submarket inventory), current suburban vacancy has only increased to 11.0%.