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Solid Downtown leasing activity aids gradual office recovery
Office-using employment in Quebec ticked upwards at the start of Q4 before declining more than 1.0% year over year. While employment in finance, insurance and real estate (FIRE) industries continued to increase, it could not offset broader declines in public administration, business & support services, and professional, scientific, and technical services. While overall availability in Montreal increased by 20 basis points (bps) from last year to 17.3%, the market observed its lowest quarterly availability recorded in 2025.