Vancouver Office Market Report Q1 2020
Vancouver’s office market, like every other office market in the world, was blindsided by COVID-19, a true black swan event. With the world’s largest work from home experiment unfolding late in the quarter, available office statistics do not accurately account for the seismic change in office leasing dynamics that has occurred. As most office workers are operating from home, the future of office buildings has now been called into question, at least in the short term. With so many unknowns, any projections would barely be worth stating, but what is undeniable is the status quo is no longer the case. What the future holds will be the subject of subsequent reports, but for now all that can be said is all bets are off.