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Ottawa Market Study - Fall 2008

Canadian Office Vacancy Rate Remains at Record Low

Throughout the first half of 2008, corporate vacancy rates in Canada's major cities continued to track at or near record low levels. However, the deepening crisis in the U.S. financial sector is beginning to cause some economic cautiousness here, so growth has begun to level off in many areas of the country.  

Highlights

  • Vacancy rates in Kanata spike with corporate downsizings
  • Office space availability tight downtown
  • New Gatineau developments pending

 

Space Availability Varies Widely in Greater Ottawa Area

Over the past six months, the corporate real estate market in the Greater Ottawa area has seen some changes. In downtown Ottawa and Gatineau, vacancy rates have continued to fall to record lows, while in the Kanata/West Ottawa market, vacancy rates have spiked dramatically.

 

Devencore Real Estate National Portrait - Spotlight on Downtown Ottawa, Fall 2008