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 -1.05 million square feet and in 2024, it was forecast to remain negative at -0.27 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.
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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CBRE Group. (February 26, 2024). Net absorption of office space in Ottawa, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/953866/net-absorption-office-ottawa/
CBRE Group. "Net absorption of office space in Ottawa, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet)." Chart. February 26, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/953866/net-absorption-office-ottawa/
CBRE Group. (2024). Net absorption of office space in Ottawa, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/953866/net-absorption-office-ottawa/
CBRE Group. "Net Absorption of Office Space in Ottawa, Canada from 2016 to 2023 with a Forecast for 2024 (in Million Square Feet)." Statista, Statista Inc., 26 Feb 2024, https://www.statista.com/statistics/953866/net-absorption-office-ottawa/
CBRE Group, Net absorption of office space in Ottawa, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet) Statista, https://www.statista.com/statistics/953866/net-absorption-office-ottawa/ (last visited November 21, 2024)
Net absorption of office space in Ottawa, Canada from 2016 to 2023 with a forecast for 2024 (in million square feet) [Graph], CBRE Group, February 26, 2024. [Online]. Available: https://www.statista.com/statistics/953866/net-absorption-office-ottawa/
