• The Metro Vancouver office market finished 2019 with a record low vacancy rate of 3.7%, a 10 basis point (bps) decrease quarter-over-quarter and 190 bps year-over-year.
  • Vacancy in the Downtown core fell 10 bps from Q3 2019, a bellwether of continued strong demand for office space.
  • Suburban markets built on a stellar Q3 performance, with the vacancy rate holding steady at an all-time low of 5.2%.
  • As 2019 closed, vacancy decreased across all markets year-over-year. This trend is anticipated to continue through 2020 with high expectations for upcoming developments.