Brokers Share Their Feelings
The majority of brokers expect rents to drop in the next year, as landlords seek to attract and retain tenants amid the delivery of new, high-quality office space (such as Bremner Tower in the South Core, pictured centre). That's according to Colliers brokers surveyed by analyst Curtis Scott. (That's why you should never be too shy to ask—both in dating and brokerage.)
But Colliers' brokers are neither bullish nor bearish when it comes to tenant demand in the coming year. The majority expect no change, which Curtis interprets as brokers taking a "wait and see" approach. Even tenants are waiting to see how the market fares once all the new office towers open, says Curtis, who at the moment is suffering greatly amid an abnormal Vancouver heat wave. (His fan is futile, he says: "It just blows hot air on me.")
