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Research

Report

Greater Montréal Office Insight - Q4 2011


Overall market conditions remained flat in the fourth quarter as a result of renewed economic uncertainty. Due to the slowdown in leasing activity, the overall vacancy rate remained flat as the fourth quarter saw absorption reduced to 133,447 square feet across the GMA. The bulk of absorbed space was in Downtown Montreal, while Laval, the South Shore and the East End combined, saw -80,303 square feet come back to market.

Despite the tightening in the Downtown market, demand remains high, and tenants now find themselves with less negotiating leverage, especially for lease renewals. Until a new building is completed, the Downtown market is likely to reach an unsustainably low level of availability creating an increase in demand for Midtown and Suburban office space.​

 

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