Western Canadian office vacancy rates to hit 20-year high -report

May 1, 2015 5:54 PM

60 0

MONTREAL May 1 (Reuters) - Sliding commodity prices and record levels of office construction could drive Western Canadian downtown vacancy rates to a two-decade high, one of the world's biggest commercial real estate services firms has forecast.

Despite growth in the high-tech sector, weaker demand from resource and energy companies is boosting vacancy rates in Vancouver, Calgary and Edmonton to levels unseen since Canada's economic slowdown of the early 1990s, according to a Cushman & Wakefield report that will be released later this month...

Also read: US forest in Colorado to re-open after fire danger ends

Read more

To category page