Positive signs continue for the retail sector with rent increasing 0.4% from the previous quarter. Americas retail rent growth was particularly strong, up 1.0% from the previous quarter. Retail capital values continued to build momentum, growing 0.5% from the previous quarter. Retail rent and capital values both declined from the previous year, down 0.7% and 0.8% respectfully.
Office rents also observed improving conditions, with rents up 0.5% from the previous quarter, largely due to growing rents in the Americas and EMEA. Office capital values increased by 1.1% from the previous quarter. Office capital values grew by 1.2% in the Americas and 2.7% in Europe while decreasing by 0.2% is APAC. On a year-over-year basis, office rents declined by 0.2%, while office capital values grew by 2.9%.
Industrial remains the most resilient asset among the three sectors, with industrial rents and capital values continuing to surge. Industrial rents grew by 3.1% from the previous quarter, the highest quarterly increase since 2007. Industrial capital values grew by 8.5% from the previous quarter, the largest quarterly increase on record. Industrial rents and capital values grew by 6.6% and 24.8%, respectively, from the previous year.