Altus Group releases its 2024 Canadian Cost Guide

For decades, Altus Group’s Cost Guide has been relied on by the industry to help ensure accuracy and predictability of construction costs and to assess project risks. Drawing on an in-house database representing more than 5,700 development projects and over a 1.4 billion square feet collectively valued at over C$440 billion, the Guide provides ranges on hard costs covering all aspects of real estate development and infrastructure projects, including a detailed breakdown by asset class, city, and on a dollar per square foot or unit metric.

“Despite elevated interest rates and inflationary pressures, Altus Group’s 2024 Cost Guide indicates that escalation in construction costs has stabilized,” said Colin Doran, Head of Development Advisory, Americas at Altus Group. “It appears that the scales are tilting toward moderation of construction costs over the next 6 to 12 months, however, this equilibrium may be relatively short-lived as rapid population growth and a large backlog of projects will inevitably spur more development activity in key Canadian cities. Actively staying on top of construction costs is imperative to balancing project risks and returns.”

A copy of Altus Group’s 2024 Canadian Cost Guide can be downloaded here.