Vancouver Office Investment Forecast

Market steadies as tech prospects could build. Vancouver’s office landscape showed some resilience last year, with leasing activity outperforming expectations despite widespread trade risks. After an uncertain start to 2025, net absorption was positive through the first three quarters, as small- and mid-sized tenants reentered the market and larger occupiers renewed space. Office-using employment posted solid gains, helping the metro’s vacancy rate hold below 10 per cent — among the lowest of major North American cities. Demand remained firmly tilted toward best-in-class assets, while suburban submarkets continued to outperform amid stronger commuter access and newer inventory. Looking ahead, fundamentals point to gradual stabilization. New supply is set to decline sharply, limiting further upward pressure on vacancy. At the same time, Vancouver’s tech industry is well-positioned to welcome talent displaced by U.S. visa restrictions, as accelerating investment in artificial intelligence joins an already well-established presence of several larger firms. Together, these forces could lift medium-term office demand, driving a more balanced market where flight to quality and selective tenant expansion anchors growth.