Montreal office market report
Q4 2024
Patience will be the order of the day in 2025
Absorption was slightly positive in Q4 (+168,000 sf), while availability rates declined slightly since last year. There has been an improvement in the class A market over the past year, both downtown and in the West Island.
3.2%
Decline in availability rate for Downtown class A space
The availability rate for class A properties downtown fell by 3.2% compared with Q4 2023.
3.5 msf
Sublet space available reached a plateau
Over the last 12 months, sublet space available has remained stable at around 3.3 msf, while direct available space shrunk by just over 850,000 sf.
$3.00 psf
Increase in additional rent since 2020
Additional rent per square foot has risen by $3.00 since 2020, an increase of almost 20%.
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