‘Worst Is Over’: Downtown Office Vacancy Rates Showing Signs Of Improvement

Published On: September 13, 2023|Categories: news|

Suburban office markets are continuing to show lower vacancy rates than downtown areas, Colliers says

Suburban office markets are continuing to show lower vacancy rates than downtown areas, where a substantial increase in new office supply has been pushing vacancies higher.

According to Colliers Canada’s latest National Market Snapshot, 93 per cent of new office supply this year through the end of the second quarter has been concentrated in downtown areas. Suburban office vacancy rates stood at 11.7 per cent compared to its downtown counterpart at 15 per cent.

Source Financial Post. Click here to read a full story