Retail rents reversed trend for the first time in nearly four years, increasing 0.2% from the previous quarter. EMEA retail rent growth was particularly strong, up 1.3% from the previous quarter. Retail capital values continued to build momentum, growing 0.2% from the previous quarter. Positive signs are emerging for the retail sector. Retail rent and capital values both declined by 4% from the previous year.

Office rents also observed improving conditions, with rents up 0.2% from the previous quarter, largely due to growing rents in the Americas and EMEA. Office capital values surged by 1.3% from the previous quarter, as office capital values grew across all regions for the second consecutive quarter. On a year-over-year basis, office rents declined by 1.4%, while office capital values grew by 1.6%.

Industrial remains the most resilient asset among the three sectors, with industrial rents and capital values continuing to surge. Industrial rents grew by 1.4% from the previous quarter, the highest quarterly increase since 2007. Industrial capital values inflated by 5.9% from the previous quarter, the largest quarterly increase on record. Industrial rents and capital values grew by 4% and 19%, respectively, from the previous year.