Edmonton Retail Market Report

Strong local economy boosted leasing activity. Helped by elevated population growth, Edmonton continued to see a solidifying consumer base last year. The metro’s residents also benefited from better housing affordability, spending just a third of their total income, as opposed to the national average of 62 per cent, on mortgage payments. This led to higher disposable income and robust consumer spending, propping up retail space demand. With the demographic and economic tailwinds helping the metro withstand elevated interest rates, Edmonton saw an increase in retail offerings. Moncler, Lululemon and Nike, for instance, have all announced expansion plans at the West Edmonton Mall. As retail space demand outstripped limited new supply, the vacancy rate fell considerably, hovering below the pre-pandemic level at the end of 2023.