Montreal office vacancy rate highest since recession

The vacancy rate for offices in downtown Montreal has hit a six-year high with 10.8 per cent of available space unoccupied.

CBRE Canada says that the historic average is around seven or eight per cent but that the city has yet to rebound from the financial crisis in terms of economic growth and jobs creation; and low confidence has been exacerbated by the technical recession in the first half of 2015.

It also said there is more inventory on the way but that this will meet the needs of modern workplaces and the tech sector.

CBRE’s Alexandre Sieber told The Montreal Gazette that overbuilding is not an issue, builders are responding to demand for modern offerings.

“Montreal is a world-class city," he said. "Montreal needs world-class buildings. Our inventory is getting older.”

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release


Do you invest in commercial properties?