Canada Office Real Estate Market To Reach USD 33.84 Billion By 2030, Amid Rising Demand For Grade A Sustainable Offices

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"Canada Office Real Estate Market"Mordor Intelligence has published a new report on the Canada Office Real Estate Market, offering a comprehensive analysis of trends, growth drivers, and future projections.

Introduction to Canada Office Real Estate Market

According to Mordor Intelligence, the canada office real estate market size is estimated at USD 28.29 billion in 2025, and is expected to reach USD 33.84 billion by 2030, at a CAGR of 3.65% during the forecast period (2025-2030). The market is showing signs of renewed momentum, supported by evolving workplace strategies and shifting investor preferences. A key highlight is the rapid expansion of flexible office formats, with demand for co-working and hybrid spaces accelerating across major cities.

Key Trends in the Canada Office Real Estate Market

Shift toward Flexible and Hybrid Workspaces

One of the dominant trends shaping the Canada Office Real Estate Market is the rapid expansion of flexible office formats. Driven by hybrid work models, enterprises large and small are integrating co-working, shared services, and flexible lease terms into their real estate strategies.

Flight to Quality – Demand for Class A, Sustainable Offices

Tenants are favoring well-located, modern, and energy-efficient buildings over older, less efficient stock. Office buildings with advanced amenities, enhanced sustainability credentials, and proximity to transit are capturing higher demand.

Underperformance and Repurposing of Legacy Stock

Some of these assets are being considered for conversion to other uses such as residential, data centers, or mixed-use developments, reflecting the necessity to optimize underutilized space in Canada's office portfolio.

Investor Caution and Capital Recycling

While capital is flowing back to office assets, investors are more selective. There is a tendency to recycle capital from non-core or underperforming properties into core, high-quality office stock.

Market Segmentation of the Canada Office Real Estate

By Building Grade

Grade A

Grade B

Grade C

By Transaction Type

Rental

Sales

By End Use

Information Technology (IT & ITES)

BFSI (Banking, Financial Services and Insurance)

Business Consulting & Professional Services

Other Services (Retail, Lifescience, Energy, Legal)

By Province

Ontario

Quebec

British Columbia

Alberta

Rest of Canada

Key Players in Canada Office Real Estate Market

• Brookfield Asset Management – A leading global alternative asset manager with significant investments in office real estate across Canada's major urban centers.

• Oxford Properties Group – The real estate arm of OMERS, managing and developing high-quality office properties in Canada and internationally.

• Ivanhoé Cambridge – A real estate subsidiary of CDPQ, focused on investment, development, and management of office and mixed-use assets.

• Cadillac Fairview – A major Canadian real estate company owning and operating landmark office towers in key business districts.

• Allied Properties Real Estate Investment Trust – A REIT specializing in urban office environments, particularly targeting workspace for knowledge-based organizations.

Conclusion

The Canada Office Real Estate industry is entering a period of rebalancing. While flexible workspace and prime office stock are poised for growth, lower-quality, outdated buildings face increasing pressure.

With Canada Office Real Estate Market statistics pointing to continued segmentation and selective investment, success will favor stakeholders who understand local geographies

For complete market analysis, please visit the Mordor Intelligence page:

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