Summary and analysis of Canada’s current economic and retail real estate market conditions.
Retail real estate fundamentals remain robust in key markets. Total available space continues to decline, and asking rent growth is showing signs of stabilization. Supply remains a challenge due to limited construction activity, and construction starts are at historically low levels.
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Toronto retail insight
A slew of new spaces have been completed in Edmonton this year.
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Calgary retail insight
Calgary’s retail market remains tight, with demand continuing to outpace supply.
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Montreal retail insight
Demand for retail space in Montréal exceeded supply in the first half of 2025, driving a substantial reduction in available inventory.
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Vancouver retail insight
Despite a slight uptick in the availability rate, Vancouver’s retail market remains one of the most sought-after in North America.
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Ottawa retail insight
The Ottawa retail market has shifted its dynamics from last year, with net absorption turning positive again and outpacing net completions.
Edmonton retail insight
Net absorption in Toronto slowed significantly in 2025, due mostly to lower new supply.
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