Downtown Edmonton’s real estate market has bounced back as the oil and gas industry recovers from its recent slump, but the glow could fade in coming months.
The office vacancy rate at the end of June dropped to 12.5 per cent, down from 15.3 per cent in 2017 and far below the crushing 26 per cent vacancy rate in downtown Calgary, figures from Avison Young real estate show.
That’s the lowest figure since the pre-recession 8.8 per cent vacancy rate in 2015.
One big reason for the improvement is the growing presence of high-tech operations in the core, Edmonton Avison Young managing director Cory Wosnack said.
Read the full story at edmontonjournal.com.