Montreal Office Figures Q1 2026

‒    Downtown continues to perform as net absorption totalled nearly 141,000 sq. ft., with approximately 111,000 sq. ft. deriving from Class A.

‒    Class B properties connected to the underground network reported a fourth consecutive quarter of positive net absorption, totalling nearly 220,000 sq. ft. and underscoring transit accessibility as a highly valued amenity.

‒    Class AAA space remains scarce despite negative absorption this quarter. Vacancy is up 20 basis points (bps) QoQ to 6.2%, the lowest of all classes and still lower than the five-year average of 8.7%.

‒    The City of Montreal has mandated their three days a week in-person for all white-collar employees starting in September.

‒    The conviction buying trend that emerged during the second half of 2025 continued into 2026. Preliminary sales volume in the first quarter exceeded $360 million, a figure over eight times higher than Q1 2025.