• Metro Vancouver office vacancy increased for the second successive quarter to 5.4%, surpassing the 5% mark for the fist time since 2018.
  • Downtown vacancy settled at 4.6%, rising by 130 basis points (bps) compared to Q2, due to growing availability in both direct and sublease space.
  • Vacancy in suburban market settled at 6.3%, 30 bps over Q2 2020.
  • Metro Vancouver remained the tightest office market in Canada.