Vancouver Realtor

Vancouver is Canada's most expensive office market according to the Office Space Across the World 2012 report, released today by Cushman & Wakefield Commercial Real Estate (C&W). 

Though rents in Vancouver's central business district only increased modestly over the previous year, they remain the highest in the country, by far, at an average of $33.87 CAD/square foot/per year.

Hendrik Zessel, Senior Managing Director, C&W Vancouver says that the high rents in Vancouver are the result of demand that simply outpaces supply. "The downtown market is very tight right now," says Zessel. "With no new buildings coming to market until at least 2014, that isn't expected to change any time soon. The lack of available space is largely due to continued global economic uncertainty that stemmed from the 2008 recession, which had developers being very cautious. There have been some recent new development announcements, which will help to address demand in the next few years, but until then we expect our office market will remain the most competitive, and therefore most expensive in the country." 

As an MBA qualified Realtor in Vancouver I am able to help my clients find office space and commercial real estate in Vancouver perhaps in a more qualified way than most Vancouver Realtors! Please call me on 604 437 4277 anytime to discuss all things real estate in Vancouver.