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Net absorption of office space in Ottawa, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet)

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Source

Release date

February 2024

Region

Canada

Survey time period

2016 to 2023

Special properties

Downtown and suburban

Supplementary notes

* forecast

Citation formats

Net absorption of office space in Ottawa 2016-2023 with a forecast for 2024

Published by ÌÇÐÄÆƽâ°æ Research Department, May 3, 2024

Due to the coronavirus pandemic and the oil crisis, the office market saw rising vacancies and a fall in leasing activity. In 2023, the net absorption of office space in Ottawa, Canada, was approximately million square feet and in 2024, it was forecast to remain negative at million square feet. Net absorption is the total amount of space which tenants moved into minus the total amount of space which tenants moved out of during a specific period. According to the national forecast, absorption is expected to increase in 2024.

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