Figures

Halifax Office Figures Q3 2026

Continued demand maintains lowest vacancy among major Canadian city centres

October 9, 2026 5 Minute Read

Halifax’s office market strengthened during the third quarter, recording 41,000 sq. ft. of positive net absorption as the overall vacancy rate declined by 30 bps (bps) to 8.8%.
Downtown Halifax led the quarter’s activity, recording 37,000 sq. ft. of positive net absorption and lowering its vacancy rate by 70 bps to 11.9%.
Class A properties across Halifax accounted for most of the quarter’s occupancy gains, with vacancy declining by 80 bps to 9.0%, reinforcing the continued flight-to-quality trend.
Average net asking rents decreased modestly to $17.53 per sq. ft. across the total office market, reflecting a change in the composition of available space, as high-quality Class A space was absorbed and a greater share of remaining availability consisted of lower-priced Class B and Class C product.
Development activity has accelerated across the Halifax market, with 160,000 sq. ft. currently under construction, representing the largest active pipeline since Q4 2021.