Figures

Quebec City Office Figures Q2 2026

Class B properties drive positive net absorption

August 11, 2026 5 Minute Read

Looking for a PDF of this content?

Download

  • Office to residential conversion projects continue to rain traction, removing available space in nine buildings for a total of 1.2 million sq. ft. since the beginning of 2026.
  • Class B achieves positive net absorption for three consecutive quarters with nearly 143,000 sq. ft. absorbed this quarter.
  • The overall vacancy rate is down to a five quarters low of 12.9%
  • The gap between Class A and B vacancy rate widens to 530 basis points (bps) due to sustained leasing activity and conversion project on underperforming assets. In spite of this, Class A remains between 15-20% more expensive than Class B in net asking rate between 2022 and 2026.