Vancouver sees uptick in commercial rents

Commercial rents in Vancouver rose by 2.4% in Q3 2024 compared to the same period last year, with significant increases across all segments: office buildings (0.4%), retail (2.1%), and industrial (3.9%). In contrast, B.C. saw a 1.7% increase, while the national average was up 2%. The data indicates a steadying demand in the commercial real estate market, with metrics like vacancy rates and rental prices returning to historical averages, according to insights from a recent market outlook event.