10/14/2026
🏙️ Canada’s Commercial Real Estate Market: Some Cities Are Booming. Others Are Slowing Down. 📊
Same country. Same economy. Very different real estate markets.
According to Altus Group’s commercial real estate sales data, year-to-date through Q2 2026, Canada’s major markets are moving in very different directions compared with the same period in 2025.
📍 Here’s how total commercial sales volume changed:
🟢 Ottawa: +52%
🟢 Montréal: +38%
🟢 Toronto: +34%
🟢 Calgary: +1%
🔴 Greater Golden Horseshoe: −8%
🔴 Vancouver: −23%
🔴 Edmonton: −26%
But here’s where things get interesting. 👀
🏢 Ottawa’s office sector surged 582%, while Toronto’s apartment sector jumped 244%.
🏗️ Calgary’s residential land sales increased 61%, even as its office sector declined 51%.
🏙️ Vancouver experienced declining activity across nearly every property sector, while Montréal recorded growth in six of seven sectors.
What does this tell us?
Canada doesn’t have one commercial real estate market. It has multiple regional markets responding differently to economic conditions, investment activity, financing costs, and local demand.
And here’s an important distinction:
📉 Lower sales volume doesn’t necessarily mean lower property values.
These figures measure changes in transaction activity, not property prices or investment returns.
Whether you’re an investor, developer, business owner, or simply watching where Canada’s real estate market is heading, understanding these differences matters.
👉 Swipe through the carousel for a city-by-city breakdown of office, retail, industrial, apartment, hotel, and land sales.
💬 Which Canadian city do you think offers the strongest commercial real estate opportunities over the next few years?
👇 Share your perspective in the comments!
📊 Source: Altus Group, Altus Data Studio | YTD Q2 2026 vs. YTD Q2 2025. Alberta figures are preliminary due to land-title processing delays.