Canada office insights
Downtowns continue to soften while suburbs are more stable, though office utilization continues to steadily gain momentum.
- Matthew Clark
- Megan Keeler
All Canadian markets now have higher office vacancy in their downtown core than in the suburbs. However, with the Bank of Canada dropping its key policy interest rate to 4.5%, there is growing optimism that market conditions will improve along with local economies in the second half of the year and into 2025.
Click below to download the individual city insight reports:
Calgary office insight
Both Downtown and Suburban availability and asking net rents remained steady from Q1.
Request report >
Montreal office insight
Landlords continue to invest in amenitization efforts to stimulate tenant demand.
Request report >
Southwest Ontario office insight
Core nodes gain leasing and touring traction among tenants as more quality offerings become available in the market.
Request report >
Vancouver office insight
Market activity was relatively muted, leaving vacancy flat at 10.2%.
Request report >
Toronto office insight
Downtown vacancy rate exceeds Suburban for the first time in Toronto.
Request report >
Edmonton office insight
Oilers Stanley Cup run coincides with positive absorption, drop in vacancy.
Request report >
Ottawa office insight
Vacancy falls, absorption rises as Ottawa announces major plans to revamp its downtown.
