Commercial rental market begins to recover
November 19, 2020
With further easing of physical distancing measures, the gradual reopening of the economy, and employment continuing to recover, Statistics Canada observes that commercial rents rose by 0.7% in the third quarter, following a record 1.8% drop in the second quarter. Rents for retail buildings rose at the third-highest rate, 0.5%. The increase in commercial rents in the summer reflected gradual easing of rent relief and abatement during the second quarter as well as an improved labour market.
Information on Rent Relief programs can be found on RCC’s guide to COVID-19 Relief Measures.
