Retail rents slowed their annual increase rate from over 6% in 2023 in many Ottawa submarkets to 3.3% in 2024. Unlike recent years, retail rents in the wealthy western submarkets of Kanata and West Central underperformed the regional average of 3.3% this year, coming in at 3.0% and 3.1% respectively. Since 2019, these two submarkets have led Ottawa's retail growth, with East Central often not far behind.
CoStar Insight
Even as they slow, retail rent increases in Ottawa continue to outpace inflation
For the first time in years, downtown market outperformed other areas in 2024
CoStar Analytics
January 21, 2025 | 6:38 P.M.
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