Vancouver Office Real Estate Market
Q1 2026 Vancouver office market reported vacancy rate (Metro) at 11.2%. Avg asking rent (all classes, gross) at $53.68/sf and downtown office cap rate (Class A) at 5.9%. Additional indicators included downtown vacancy rate at 14.4%, net absorption (YTD) at 263K sf, and under construction at 1.3M sf.
Vacancy, net asking rents, cap rates, absorption, submarket detail and public-REIT exposure across Metro Vancouver, drawn from broker research. Q1 2026 · Updated July 8, 2026.
Sources: CBRE caprates capital markets Q1 2026; Cushman & Wakefield office Q1 2026 · Q1 2026 broker research
Vacancy rate (Metro)
11.2%
1 broker source
Downtown vacancy rate
14.4%
1 broker source
Avg asking rent (all classes, gross)
$53.68/sf
1 broker source
Net absorption (YTD)
263K sf
1 broker source
Under construction
1.3M sf
1 broker source
Downtown office cap rate (Class A)
5.9%
1 broker source
Sub-sector detail
Current values shown — the published trailing range is flat, so there is no range comparison to draw