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News & Research

Media Centre

Date Entered: 02/01/2018
Subject: Halifax Office Market Out of Balance
Attachment: 99.pdf (Original file name: 2017 Dec Halifax Press Release.pdf)

Will the cranes in Halifax’s downtown soon make way for the wrecking ball? Halifax’s office inventory has ballooned over the past few years to an unsustainably high level in the face of a reduced workforce due to our aging population, and a sea change in how many square feet of office space companies lease per employee. At recent rates of absorption, it will take 25 years to restore equilibrium in the vacancy rate…and that is with no more space coming to market.