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Altus Group Releases Its 2025 Canadian Cost Guide

March 27, 2025 at 09:00 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

TORONTO, March 27, 2025 (GLOBE NEWSWIRE) -- Altus Group Limited (“Altus Group” or the “Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), today released its 2025 Canadian Cost Guide, an annual assessment of real estate development and infrastructure construction hard costs across all asset classes in major Canadian cities.

For decades, industry professionals have relied on Altus Group’s Cost Guide to enhance the accuracy and predictability of construction cost estimates and evaluate project risks. Leveraging Altus’ insights from over 6,200 development projects spanning over 1.5 million square feet with a collective value exceeding C$521 billion, the Cost Guide covers hard costs of real estate development and infrastructure projects, delivering detailed insights by asset class, city, and on a per-square-foot or per-unit basis. Construction costs are influenced by both global and local economic conditions, market trends and advancements in building materials, practices and methods. The Cost Guide takes these factors into account to provide a resource for initial budgeting or as a benchmark for estimating costs across various regions and building types.

“The 2025 Canadian Cost Guide shows that cost increases have been leveling off over the past year and are now more in line with general inflation,” said Colin Doran, Head of Development Advisory, Americas at Altus Group. “The big question is whether that stability will hold. With shifting trade policies, upcoming building code changes, and labour negotiations on the horizon, developers are facing a new wave of complexity—and that’s on top of already high construction costs. Staying agile and tapping into real-time data will be key to navigating what’s ahead.”

“The threat of new tariffs could throw a wrench into the 2025 cost outlook,” added Peter Norman, Vice President and Economic Strategist at Altus Group. “Even if the immediate impact is muted, it’s still a wild card. It really depends on what goods are affected, how long tariffs stick around, and whether there’s any retaliation—all of which could drive costs even higher.”

A copy of Altus Group’s 2025 Canadian Cost Guide can be downloaded here. To read an article with commentary on the 2025 Cost Guide from our experts, click here.

The Cost Guide is for informational purposes only; readers are advised to consult with a qualified professional for advice on specific projects.

About Altus Group

Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services. Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. Altus Group is a global company headquartered in Toronto with approximately 1,900 employees across North America, EMEA and Asia Pacific. For more information about Altus (TSX: AIF) please visit altusgroup.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Elizabeth Lambe
Director, Global Communications, Altus Group
(416) 641-9787
elizabeth.lambe@altusgroup.com