Office Space Demand Climbs In Most Of Atlantic Canada
The latest data shows an increase in demand from increases in Halifax, Moncton, Fredericton, and Charlottetown.
The latest data shows an increase in demand from increases in Halifax, Moncton, Fredericton, and Charlottetown.
As businesses moved to a work-from-home model their employees left offices in droves. That left many businesses that catered to the office crowd in rough shape.
With the pandemic forcing many people to work from home, businesses everywhere have been grappling with the need and use of physical office space. But in cities like Saint John, how Covid-19 will change the office and commercial market is still unclear.
Though the full impact of Covid-19 on the region’s rental office market has yet to be seen, there are some early indicators that recent downward trends in vacancy are starting to reverse.
Halifax was the only Atlantic Canadian city to see an increase in the vacancy rate as of the end of the year.
Office vacancy rates have lowered in New Brunswick overall, according to the latest survey numbers released Tuesday by real estate company Turner Drake & Partners. Moncton saw the biggest drop, and now has the lowest vacancy rate in Atlantic Canada, at 7.96 per cent.
The office vacancy rate is declining in New Brunswick according to the latest market survey from Atlantic Canadian real estate counsellors Turner and Drake.