Canada office insights

Momentum had been building over the second half of 2024 as falling interest rates and improved business sentiment led to a resurgence in office leasing activity.  This continued through February but then paused abruptly as tariff talk intensified. After staying flat in Q4 2024, office vacancy again resumed an upward trend, rising from 17.6% to 17.8%.  Net absorption was back in negative territory at -468k s.f., while asking rents increased marginally.

Calgary office insight

Both Downtown and Suburban availability and asking net rents remained steady from Q1.     
Request report >

Montreal office insight

Sales volume and vacancy rates on the rise while job listings trend toward on-site roles.     
Request report >

Southwest Ontario office insight

Recent completions,sales activity and growingtenant interest for leasing office space stabilizes the market.     
Request report >

Vancouver office insight

Although leasing activity improves, large blocks of unoccupied space have brought overall vacancy to 10.9% across Metro Vancouver.     
Request report >

Toronto office insight

Vacancy continues to climb, but expectations of an economic rebound are driving an increase in hiring.     
Request report >

Edmonton office insight

Vacancy falls 30 bps as Edmonton market continues its hot streak.     
Request report >

Ottawa office insight

Downtown and Ottawa West diverging on absorption and vacancy as public sector in-office mandates come into effect.     

Request report >