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Rent premium narrows for new apartments in Montreal

Rent gap between premium, new units and existing properties even smaller once concessions are factored in
1 Square Philipps rises above the surrounding buildings in Montreal’s downtown. The 441-unit apartment building was completed in 2024. Montreal has added nearly 50,000 new rental units since 2020. Olivier Gariépy (CoStar)
1 Square Philipps rises above the surrounding buildings in Montreal’s downtown. The 441-unit apartment building was completed in 2024. Montreal has added nearly 50,000 new rental units since 2020. Olivier Gariépy (CoStar)
CoStar Analytics
May 11, 2026 | 2:33 AM

The rental premium commanded by new apartment construction in Montreal has narrowed meaningfully since its post-pandemic peak, reflecting a market that is rebalancing as supply pressures meet mounting affordability constraints.

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