Net absorption of office space in Montreal 2016-2022 with a forecast for 2023
In 2022, the net absorption of office space in Montreal remained negative, meaning that more tenants moved out of office space than the ones that moved in during this period. The drastic decline was a result of the coronavirus (COVID-19) crisis. According to the forecast, office space absorption is expected to rise in 2023, reaching -0.23 million square feet. The uptick can also be seen on a national level.