Canada Retail Rent Survey H2 2024

CBRE’s H2 2024 Retail Rent Survey presents a snapshot of retail trends and rents for 11 cities across Canada.

Key Trends

–       Rent growth was noted in 24 of the total 120 areas included in the survey. This is a marked slowing in the pace of rent appreciation cross-country and follows 40 increases noted at mid-year. Four reductions on benchmark rent prices meanwhile were noted.

–       On a by-market basis, four of 11 markets reported no change in rents over the last six months. This ties the H1 2023 edition for the greatest number of markets with no noted movement.

–       Mixed-use urban and unenclosed community centres experienced escalating rents in four markets each, the most of any retail formats. On average, cities with increases in these formats saw ranges rise by 12% from mid-year 2024.

–       Six key urban retail nodes across four markets noted increased rental rates. Select cities meanwhile continue to face challenges from decreased daytime foot traffic, with the focus instead remaining on suburban sites.