Montreal office market report
Q3 2024
Higher occupancy requires new leasing strategy
As office use increases, employers need to assess whether their current premises can accommodate different occupancy scenarios. Meanwhile, the window of opportunity to secure quality premises at advantageous cost is gradually closing.
600K
Level of absorption for properties built since 2010
Over 600,000 sf of positive absorption has been recorded since the start of the year in properties built since 2010.
$4.31
Narrowing spread between average net asking rent of class A and B space
The difference in net rents between the A and B markets was only $4.31 in Q3 2024.
2.68%
Percentage of total area transacted by institutional players
Over the past six months, 59% of total areas sold have shifted from institutional investors to local private buyers.
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