Research

Canada Office Outlook - Q4 2019

Canada delivers a stellar, albeit regionally fragmented, performance with solid occupier growth and a significant pipeline of new construction as we enter 2020

February 04, 2020

A resilient labour market added 35,000 new jobs in December bringing the annual total to an impressive 320,300 new jobs, many in typical office using occupations. This growth has fueled occupier demand, and coupled with limited new completions in 2019, resulted in historically low vacancy and double-digit annual rent growth in several downtown markets. Some relief is expected as 19 million square feet of new construction will be completed over the next three years, almost entirely in downtown Toronto, Vancouver and Montreal.

 

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Click below to download the individual city insight reports included in the Q4 2019 outlook: