Office vacancies set to rise says Colliers
Ottawa, Vancouver and Toronto are all predicted to see a rise in vacancy rates for offices in the coming years according to a new report. Colliers Canada’s Commercial Real Estate Outlook 2015 looks ahead to the next three years and the role that the offices and industrial markets will play. The report forecasts that continued economic growth in the Us in particular and the softer Canadian dollar will boost exports but oil and natural resources will be under pressure. Expansion in information and communication technology should help the market in Ottawa although there is a predicted increase in vacancies. Vacancy rates in Vancouver and Toronto are likely to increase due to additional supply.