Figures

Montreal Office Figures Q2 2026

Downtown continues to lead as vacancy trends downward

July 21, 2026 5 Minute Read

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  • Class AAA net asking rents are hitting new highs as the range spread from a low of $33.00 to a high of $42.00 per sq. ft.
  • Downtown Class A and B both registered three consecutive quarters of positive net absorption.
  • Long-standing availabilities skew market vacancy as excluding listings marketed for more than 36 months reduces the vacancy rate from 18.0% to 12.4%.
  • Overall vacancy for Class AAA rose to 6.3% but direct vacancy for this trophy category went down 10 basis points (bps) to 4.8%.
  • Vacancy of 18.0% is the lowest figure since Q2 2023’s 17.6%.
  • Sublet vacancy for the Greater Montreal Area (GMA) decreased 12.4% to 1.4 million sq. ft.