Retail rents were particularly buoyant on Canada’s coasts and in the prairies during the second half of 2025, while generally holding steady in many of the 11 major regional markets CBRE Canada surveys. In a panoply of 120 different combinations of retail formats and regional markets nationwide, average rents rose in 37 cases and fell in eight. Vancouver, Saskatoon, Winnipeg and Halifax all saw rents increase across the majority of retail formats over the course of last summer and fall. Occupiers confront tightening supply given the continued sluggishness of most types of new retail development other than grocery-anchored plazas, and the more recent drop-off in new starts of mixed-use or residential condominium projects with street-level retail space. Leisure space that’s already outfitted for food and beverage operations is likewise in high demand due to high construction costs for new build-outs.