Vacancy rates of office space in Canada 2016-2023 and a forecast for 2024

Published by Statista Research Department, May 3, 2024

The vacancy rate of downtown office units in Canada has risen since 2019, reflecting the drop in leasing activity due to the coronavirus (COVID-19) pandemic. In 2023, the share of vacant office real estate reached 18.3 percent, up from 10.9 percent in 2019. According to the forecast, this trend will continue in 2024. Among Canada's major office markets, Vancouver and Ottawa had some of the lowest vacancy rates.

Vacancy rates of office units in Canada from 2016 to 2023 with a forecast for 2024

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Release date

February 2024

Region

Canada

Survey time period

2016 to 2023

Supplementary notes

Figures have been taken from several publications by the same source.
* forecast

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