Ottawa's office market is on a new trajectory
In Q2 of 2024, Ottawa’s office market continued to show a mixed and gradual improvement. At 11.5 per cent, Ottawa’s office vacancy has decreased for the fourth consecutive quarter.
In Q2 of 2024, Ottawa’s office market continued to show a mixed and gradual improvement. At 11.5 per cent, Ottawa’s office vacancy has decreased for the fourth consecutive quarter.
For some time, major Canadian office markets have been experiencing a flight to quality, with many tenants leveraging increased vacancy and resulting supply to relocate to newer, higher-quality, better-located offices with attractive amenities.