Vancouver Retail Market Slows as Demand for Space Remains Strong

Vancouver's retail market is experiencing increased demand due to rising rents and a revitalized downtown area. Limited availability and escalating rents are prompting quick lease securing by retailers. Despite a potential softening in consumer spending, growth is projected for 2024, backed by the local tech sector and robust consumer spending. The city is flourishing with significant rental growth, but a slight drop in leasing volumes. The retail market's long-term outlook remains positive.