What is the average Class A rent in Vancouver?

Around 52 CAD/sqft/yr ($39 USD) across the broader Class A index. Trophy submarkets like Downtown CBD command 20–40% above that.

How many months of rent-free are normal in Vancouver?

10 months on a 10-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Vancouver?

The Vancouver Class A market is currently flat. Vacancy is 11.2%, which sets the negotiating context.

Headline Class A rent in Vancouver is around 52 CAD/sqft/yr ($39 USD), with 10 months of typical rent-free on a 10-year term.

Headline Class A rent: 52 CAD/sqft/yr ($39 USD).
Trophy submarket rents (Downtown CBD) push to roughly C$70/sqft/yr · ≈ $51.8 PSF/yr USD.
Typical concessions on a 10-year deal: 10 months free rent.
Vacancy stands at 11.2% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Vancouver Class A office rents and incentives

Headline Class A rent in Vancouver is around 52 CAD/sqft/yr ($39 USD), with 10 months of typical rent-free on a 10-year term.

TL;DR

Headline Class A rent: 52 CAD/sqft/yr ($39 USD).
Trophy submarket rents (Downtown CBD) push to roughly C$70/sqft/yr · ≈ $51.8 PSF/yr USD.
Typical concessions on a 10-year deal: 10 months free rent.
Vacancy stands at 11.2% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Vancouver are quoted in CAD per sqft per year. Across the broad Class A index the figure is 52, but the trophy tier in Downtown CBD reaches roughly C$70/sqft/yr · ≈ $51.8 PSF/yr USD. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Vancouver concessions on a 10-year Class A lease run to 10 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — 15% federal plus 12% British Columbia general corporate income tax for a combined rate of 27%. Vancouver Empty Homes Tax does not apply to commercial; provincial Property Transfer Tax applies on acquisitions.

Where rents land by submarket

Downtown CBD sits at the top end (~C$70/sqft/yr · ≈ $51.8 PSF/yr USD). Yaletown clears around C$56/sqft/yr · ≈ $41.4 PSF/yr USD as the prime tier. The full submarket map is on the Vancouver city page.

Key facts

city	Vancouver
country	Canada
region	Americas
classARentLocal	52 CAD/sqft/yr
classARentUsd	$39/sqft/yr
vacancy	11.2%
typicalLeaseYears	10
typicalRentFreeMonths	10
submarkets	5
primeYieldPct	5.2%
trophyRent	C$70/sqft/yr · ≈ $51.8 PSF/yr USD
primeRent	C$56/sqft/yr · ≈ $41.4 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Vancouver?: Around 52 CAD/sqft/yr ($39 USD) across the broader Class A index. Trophy submarkets like Downtown CBD command 20–40% above that.
How many months of rent-free are normal in Vancouver?: 10 months on a 10-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Vancouver?: The Vancouver Class A market is currently flat. Vacancy is 11.2%, which sets the negotiating context.

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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