Canada CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Alberta & Prairies  + Canada  + Pacific Canada  | 
Vancouver's office landscape is facing change amid an ongoing flight to quality and new federal policy on student visas, says a new Avison Young report.

Vancouver’s Office Dynamics Changing

Vancouver’s office landscape is facing change amid an ongoing flight to quality and new federal policy on student visas, says a new Avison Young report.

The flight to quality has left limited options for premium large-block spaces, and the city’s international education sector is likely to require fewer real estate assets after accounting for several large transactions in 2023, according to Avison Young. Many schools catering to international students leased office premises in prominent downtown locations, helping to offset high vacancy and availaility.

The education sector comprised 25% of Metro Vancouver office tenant demand as of December 2023.

The federal government will cap student visas at 35% of the current total, starting in September 2024.

Jessica Toppazzini, managing director of Avison Young’s Vancouver office, co-ordinated the report with market intelligence specialists Riley Stephen and Shawna Rogowski. Stephen and Rogowski are also based in Vancouver.

Connect

Inside The Story

Riley StephenAvison Young

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Lease
  • ◦Sale/Acquisition
  • ◦Development
  • ◦Policy/Gov't
New call-to-action