The net absorption of office space in Vancouver increased between 2020 and 2023, showing early signs of recovery from the coronavirus (COVID-19) crisis. Net absorption is the total amount of space which tenants moved into minus the total amount of space which tenants moved out of during a specific period. In 2023, the net absorption rate of office real estate in Vancouver was a negative 0.1 million square meters, meaning that less space was occupied than vacated. According to the forecast, absorption is expected to increase not only in Vancouver, but also on a national level in 2024.
Net absorption of office space in Vancouver, Canada from 2016 to 2023 with a forecast for 2024
(in million square feet)
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CBRE Group. (February 26, 2024). Net absorption of office space in Vancouver, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet) [Graph]. In Statista. Retrieved November 19, 2024, from https://www.statista.com/statistics/953940/net-absorption-office-vancouver/
CBRE Group. "Net absorption of office space in Vancouver, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet)." Chart. February 26, 2024. Statista. Accessed November 19, 2024. https://www.statista.com/statistics/953940/net-absorption-office-vancouver/
CBRE Group. (2024). Net absorption of office space in Vancouver, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet). Statista. Statista Inc.. Accessed: November 19, 2024. https://www.statista.com/statistics/953940/net-absorption-office-vancouver/
CBRE Group. "Net Absorption of Office Space in Vancouver, Canada from 2016 to 2023 with a Forecast for 2024 (in Million Square Feet)." Statista, Statista Inc., 26 Feb 2024, https://www.statista.com/statistics/953940/net-absorption-office-vancouver/
CBRE Group, Net absorption of office space in Vancouver, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet) Statista, https://www.statista.com/statistics/953940/net-absorption-office-vancouver/ (last visited November 19, 2024)
Net absorption of office space in Vancouver, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet) [Graph], CBRE Group, February 26, 2024. [Online]. Available: https://www.statista.com/statistics/953940/net-absorption-office-vancouver/
