Emerging Trends in Real Estate 2026: Calgary Leads Canada’s Markets to WatchÂ
- ClearView Insider
- 1 day ago
- 2 min read
Calgary once again ranks as the top market to watch in Canada in PwC’s Emerging Trends in Real Estate 2026 report. Despite softer population growth and economic headwinds, the city continues to outperform national peers across several real estate sectors.
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Key Market Signals from the Report:
Top-tier growth outlook: Calgary’s real GDP growth is forecast to rise from 1.8% in 2025 to 2.6% in 2026, positioning it as Canada’s strongest major city.
Record housing construction: New home starts hit a third consecutive record in 2024, with elevated activity expected to continue despite a cooling in population growth.
Purpose-built rental surge: Rental stock expanded 10% in 2024, pushing vacancy from 1.4% to 4.8%. Vacancy is projected to peak in 2025 before tightening through 2027 as supply absorption improves.
Retail resilience: Suburban and mixed-use retail remain strong, supported by housing growth. Essential retail and grocery-anchored centres continue to outperform.
Suburban office stabilizing: Suburban vacancy fell below 20% for two consecutive quarters—the first time since 2016—though moderating population growth will test demand.
Downtown office under pressure: Vacancy remains elevated at 30.7%, with downsizing, energy consolidation, and broader economic uncertainty weighing on absorption.
Office conversions accelerating: Calgary now has 21 buildings approved for office-to-residential or hotel conversions—recognized nationally as a leading example of adaptive reuse.
Industrial moderating but active: Vacancy has risen to 4.1%, shifting developer focus from speculative builds to mid-size, purpose-built projects.
Future growth catalysts: Long-term momentum includes the Prairie Economic Gateway inland port (expected 2027–2030 commercial readiness) and increasing interest in Alberta-based data centre development.
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These trends highlight Calgary’s evolution into one of Canada’s most resilient and opportunity-rich real estate markets—driven by strong construction activity, adaptive reuse, diversified growth, and continued capital movement into Western Canada.
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For market news and insights shaping Calgary’s commercial real estate landscape, contact info@cvpartners.ca.
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Source: PwC & ULI Emerging Trends in Real Estate 2026
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