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May 21, 2026COMMERCIAL RENT PRICE INDEX, MARCH 2026 Year-over-year (March 2026 vs March 2025)
From March 2025 to March 2026, the commercial rent price index for Nova Scotia increased by 4.9%, the fastest increase among provinces. Nationally commercial rents were up 3.2%. All provinces reported higher commercial rents compared to one year ago, with Saskatchewan reporting the slowest growth in commercial rent prices.
Year-over-year price growth in Nova Scotia's commercial rents peaked in the summer months of 2022. Part of this strong growth reflected a rebound from declines in the summer of 2021. Nova Scotia year-over-year commercial rents growth has remained below 5.0% since the second half of 2023, but remains above the national rate.
Q1 2026 vs Q1 2025
Comparing the commercial rent price index for Q1 2026 with Q1 2025, Nova Scotia's commercial rents were up 4.2%, fastest rise among provinces. The national increase in commercial rents was 3.1% with gains in all provinces, with the slowest rise in Saskatchewan.
Nova Scotia's commercial rent price index has been more volatile than indices for other provinces, with large downward movements at the beginning of the pandemic as well as in the first half of 2021. From the middle of 2021 to early 2023, Nova Scotia's commercial rents rose more rapidly than in any other province. Since 2019, commercial rents in Nova Scotia have risen by more than in any other province.
Notes: Statistics Canada's price index measures monthly changes in the net effective rent for the occupied commercial building spaces such as offices, retail buildings, industrial buildings and warehouses. Although the data series is monthly, it is only published at the end of each quarter.
Source: Statistics Canada. Table 18-10-0255-01 Commercial rents services price index, monthly; Table 18-10-0260-01 Commercial rents services price index, quarterly
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