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Canada's Commercial Real Estate Markets Poised for Gradual Stabilization and Growth in 2026: Morguard

By The Northwire Desk — AI Analysis Jan 15, 2026 · 10:15 MRC · 118.15 MORGUARD CORPORATION
MRC · Price

Executive Summary

  • Morguard released its 2026 Canadian Economic Outlook and Market Fundamentals Report, analyzing the 2025 real estate market and projecting trends for 2026.
  • The report highlights gradual stabilization in multi‑suite residential rentals, healthy industrial fundamentals, and an improving outlook for office space.
  • Investment capital into Canadian commercial real estate is expected to increase as borrowing costs ease and lender appetite improves.

Key Details

  • Report Availability: Full 28th annual edition accessible at morguard.com/research.
  • Residential Rental Market: Softening in late‑2024/2025 due to weaker demand and new supply; demand expected to exceed supply, leading to vacancy stabilization and rent leveling by 2027.
  • Office Sector: Occupancy rising from return‑to‑office mandates; investors likely to focus on trophy Class A assets and value‑add or conversion opportunities.
  • Industrial Leasing: Fundamentals remain healthy despite increased supply; investment sales activity steady with logistics/warehouse assets trading at robust rates.
  • Retail Space: High‑quality retail remains scarce, keeping vacancy low and rents strong; tight market expected to persist through 2026.
  • Economic Context: Canadian economy slowed in early 2025 due to U.S. tariffs and trade tensions; modest growth projected for 2026 as conditions improve.
  • Capital Flow Outlook: Continued steady inflow of private capital into stabilized, high‑quality assets across office, industrial, retail, and multi‑suite residential sectors.
  • Regional Coverage: Analysis includes Halifax, Montreal, Ottawa, Toronto, Winnipeg, Regina, Saskatoon, Calgary, Edmonton, Vancouver, and Victoria.

Notable Quotes

“Even in this slow‑growth environment, high‑quality real estate has continued to demonstrate resilience, supported by stable income performance and a steady flow of private capital into well‑located, stabilized assets.” – Angela Sahi, President & CEO, Morguard

“We’re beginning to see the signs of renewed momentum across Canada’s major commercial property sectors.” – Keith Reading, Senior Director, Research, Morguard

Read the original news release →

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