02/14/2026
Greater Vancouver Retail Market Update | H1 2026
The Greater Vancouver retail market continues to demonstrate resilience and stability heading into 2026, supported by strong fundamentals and major upcoming catalysts .
Market Snapshot
• Urban Vacancy: 2.99% (slightly up from 2.90% mid-2025)
• Suburban Vacancy: 0.81% (up from 0.70% mid-2025)
• BC Average Monthly Retail Sales: $9.4B (up 2.5% YoY as of Oct 2025)
Despite a modest increase in vacancy, rates remain historically low—particularly in grocery-anchored suburban centres, which continue to post sub-1% vacancy for the second consecutive year.
“Buy Canadian” Driving Local Spending
Ongoing geopolitical tensions have strengthened domestic consumer trends:
• Canadian return travel from the U.S. declined nearly 30% YoY in peak summer 2025.
• Increased local spending is helping stabilize retail fundamentals.
Major Retail Developments
Oakridge Park (Phase 1 – Spring/Summer 2026)
One of Canada’s largest mixed-use redevelopments (~650,000 SF retail) is set to transform Vancouver’s luxury retail landscape, introducing premier global brands and the largest Rolex store in North America .
Numerous additional large-scale projects across Burnaby, Richmond, Surrey, and Coquitlam signal continued long-term retail confidence.
2026 FIFA World Cup Impact
Vancouver will host 7 World Cup matches, with projections of:
• $1B+ economic impact
• 18,000+ jobs created
This global event is expected to significantly boost tourism, hospitality, and retail performance in 2026.
Outlook
• Bank of Canada rate cuts (now 2.25%) and inflation near target support retail growth.
• BC GDP projected to rebound above 2% after a brief dip below 1.2% in 2026.
• Grocery-anchored and necessity-based retail continue to lead stability.
Bottom Line:
With low vacancies, major new retail supply, strong domestic spending trends, and the economic lift from the 2026 World Cup, Greater Vancouver retail is well-positioned for a strong year ahead.
