Ottawa office market report

Q1 2024

Rents stabilizing in the Ottawa’s Office market

Average gross rent reached $32.99 psf in Ottawa at the end of Q1 2024. With the availability rate increasing to 14.8%, landlords had to stabilize asking rents by providing longer fixturing periods, significant tenant allowances and free rent. These heavily induced deals are creating a compression in net effective rents, especially in the Downtown Core, where availability is rising in the class B market.


Total availability rate

3.9% increase from Q1 2023


sf total available lease

Up 668K sf since Q1 2023


Sublet as a percentage of all available space

0.9% decrease from Q1 2023

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Get in-depth office market reports and insights from commercial real estate experts in the Greater Ottawa area. Avison Young advisors look at Ottawa commercial real estate activities and the latest Ottawa statistics to provide you expert market research on Ottawa's office properties.

Explore different topics like the latest office market pricing trends and analysis of Ottawa's current office real estate market conditions. Gain a better understanding of Ottawa’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Ottawa's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Ottawa.

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