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A surge in office construction in Toronto’s downtown may push the city’s vacancy rate higher than New York and Boston after developers added space during the first recession in 17 years.

The proportion of empty space in Toronto’s office market, lower than the 12 largest U.S. business districts last year, will more than triple by 2011 to 13.6 percent, according to Cushman & Wakefield Inc. Brookfield Properties Corp., Cadillac Fairview Corp. and Menkes Developments Ltd. each added a glass skyscraper to the downtown of Canada’s most populous city in the last five months.

via Toronto Office Vacancies May Top Boston, Manhattan (Update1) – Bloomberg.com.

British Columbia's multi-family investment market is starting to stabilize as investor confidence grows and prices return to levels seen 18 months ago, according to Avison Young's Q2 2009 BC Multi-Family Investment Report, released today.”The market stumbled through the latter part of 2008 and the beginning of 2009 with barely enough sales to indicate new realistic market pricing,” comments Avison Young Principal Rob Greer. “Now, that seems to have completely changed. The market is currently very active with a sense of renewed confidence on the part of investors.”

via AVISON YOUNG CANADA INC. | British Columbia’s multi-family investment market begins to stabilize as prices slowly return to normal levels.

Winnipeg’s commercial real estate market is thumbing its nose at the recession, according to the author of a newly released market report.

In his mid-year report on the local market, called The Johnson Report, Winnipeg commercial leasing agent Wayne Johnson says vacancy rates have held steady through the first half of this year in both the industrial and retail sectors, and have increased only modestly in the downtown office sector.

“If you look at these numbers, you would say there is no recession,” Johnson said in an interview. “The office (sector) is good, the industrial is very good, and the retail is fabulous.”

via Vacancy rates in city stay low, defy recession – Winnipeg Free Press.

The vacancy rate for U.S. apartments reached its highest level in more than 20 years in the second quarter and could soon exceed record highs if the recession persists, real estate research firm Reis Inc said.

The national vacancy rate rose to 7.5 percent, the highest since 1987 and an increase of 1.4 percentage points from last year, according to a report Reis released on Wednesday. The record high was 7.8 percent in 1986.

“We are reaching that historic high very quickly,” said Victor Calanog, Reis director of research.

via U.S. apartment vacancies near historic high: report | Reuters.