- Despite being home to the some of the most sort after office space in Canada, downtown Toronto has seen a spike in office vacancies. 4.7% is the current vacancy rate for the area, rising a whole 2% from Q2 to Q3
- It is a similar story in Vancouver, Montreal, Ottawa and Calgary, which has seen vacancies increase to 4.6%, 8.7%, 8.8% and 12% this quarter
- The main reason for this fall has been the rise of employees working from home, or working remotely. The lockdown measures brought a huge wave of remote workers, but despite some regulations being replaced, many companies are allowing employees to work from home
