Figures
Quebec City Office Figures Q3 2026
Positive net absorption extends to a fourth quarter streak
October 30, 2026 5 Minute Read
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- Net absorption totalled 19,190 sq. ft. in Q3, bringing the year-to-date total to 148,000 sq. ft.
- Class A assets recorded 58,000 sq. ft. of positive net absorption, offsetting 38,500 sq. ft. of negative net absorption posted in Class B properties.
- The Upper Town/National Assembly submarket led with 49,900 sq. ft. of positive net absorption. Vacancy fell 160 basis points (bps) to 10.8%.
- Additional rent declined around 1.0% ($0.12) to $13.40 as the Class B share increased from 61.0% to 63.0% quarter-over-quarter, ultimately remaining flat despite that fact.
- Five submarkets recorded positive net absorption and four recorded losses, reflecting uneven activity across the market.
- Direct space fell to 2.25 million sq. ft., its lowest level in nearly seven quarters. Sublet space offset this decrease and rose to a five-quarter high of 113,000 sq. ft.