Canadian Office Market Begins to Stabilize as Economy Shows Signs of Recovery
Over the past 18 months the character of Canada's corporate real estate sector has been significantly changed by the global economic crisis. At the end of Q2 2008 the vacancy rates in Class "A" and Class "B" office space were at or near record lows in most of the country's major cities, but by the end of 2009 those rates had spiked.
- Corporate vacancy rates continue to rise
- Vacancies are concentrated in limited number of properties
- Real estate increasingly treated as strategic tool
- Rental rates generally holding steady
Moderate Growth Predicted for Downtown Montreal Office Market in 2010
By mid-2009, the global economic crisis had begun to have an impact on the corporate real estate market in downtown Montreal, and combined Class "A" and Class "B" vacancy rates had climbed to 7.4%, up from 4.9% twelve months earlier. These rates were among the highest in the country's major cities.
NKF Devencore Real Estate National Portrait - Spotlight on Downtown Montreal, Spring/Summer 2010