Proving the resilience of retail
In our 33rd edition of Main Streets Across the World, we explore the near-term outlook for the retail sector and headline rents and ranking changes for the best-in-class urban locations across the world. In addition, we will share key indicators and trends to watch, including the cost-of-living crunch and changes in e-commerce.As the world continues to emerge from the impacts of the global pandemic, prime retail destinations have continued their rebound, recording mostly positive rental growth over the past year.
- The Czech Republic represented by Pařížská Street ranked 19th worldwide, 11th in Europe and 1st in the CEE region.
- Globally, rents rose by an average of 4.8% over the past 12 months, an increase over the 3.7% growth shown in the previous year.
- Asia Pacific led the world in 2023 at 5.3%, which was a strong improvement on the 1.1% growth experienced the previous year.
- Europe also accelerated from experiencing growth of 0.9% YOY in Q3 2022 to 4.2% YOY in Q3 2023, albeit this higher rate was driven by exceptional uplift in Türkiye (without which growth in Europe averaged 2.1% for the year).
- U.S. slowed from 17.0% last year, which was driven by supportive fiscal policies, to a more sustainable 3.2%.
We hope you find the report informative. To further discuss your retail opportunities and challenges, don't hesitate to reach out to your local contacts below or read the local press release.
CONTACTS
MarketBeat
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Get a detailed overview of the retail real estate industry across Europe, backed by thorough research conducted on transactions in 13 European countries and 231 cities.
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MAIN STREETS 2022
View the 2022 Main Streets Across the World ranking and report.
