showcased stable fundamentals<\/strong><\/a> during the first half of 2023, with rents remaining in growth mode even during the leasing off-season, albeit at a slower pace. The average asking rate rose 0.2% on a trailing three-month basis through May, to $1,344, well behind the $1,716 U.S. figure. The occupancy rate in stabilized properties declined by 80 basis points in the 12 months ending in April, to 93.2%.<\/p>\n