Tashi Farmilo

The annual commercial vacancy report presented by Côté Mercier, under the leadership of Christian-Pierre Côté, has once again provided valuable insights into the commercial real estate landscape across Quebec. This year’s study, which surveyed 8,563 business locations across 63 commercial arteries in 12 administrative regions, highlights key trends, particularly in the Outaouais region.

For Outaouais, the commercial vacancy rate stands at 4%, a figure that is consistent with the province-wide average. This stability reflects the broader trend of decreasing no-occupancy rates across Quebec, where the overall vacancy rate is reported at 3.8%, down from previous years. Despite challenges faced in other regions, Outaouais continues to show resilience in maintaining a healthy commercial real estate market.

One notable inclusion in this year’s report is the analysis of Boulevard Gréber, a significant commercial artery in the region, which was analyzed for the first time. Its performance will provide key data for future evaluations and planning.

Christian-Pierre Côté noted, "The data we gather helps paint a comprehensive picture of Quebec's commercial landscape. While many regions are seeing improvements, some areas still face resistance in reducing vacancies. For retailers and investors, a no-occupancy rate above 5-6% can offer more leasing opportunities, but rates below 4% suggest a tighter market with limited availability."

The data collection for this extensive report took place during the summer of 2024, ensuring up-to-date insights for stakeholders across the province.

The Outaouais region, alongside other key municipalities like Alma, Saguenay, Rimouski, and Québec City, continues to be a focal point for tracking commercial real estate trends. This study remains a crucial tool for investors, urban planners, and policymakers as they navigate the evolving urban and commercial dynamics.