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.
- 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 via your country page below:
CONTACTS
MarketBeat
Access the latest quarter commercial real estate results for the retail sector nationally. MarketBeat reports analyze quarterly market activity including supply, demand and pricing trends.
James Bohnaker • 10/10/2024
MarketBeat
Island wide retail rents continued to grow by 0.7% qoq to $29.62 psf/mo in Q3 2023, only about 0.2% below the pre-pandemic rate of $29.68 psf/mo, indicating a steady recovery path underpinned by limited new supply and resilient demand.
Xian Yang Wong • 09/10/2024
Research
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.
Christian Dubois • 03/10/2024
Research
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.
Sally Bruer • 20/09/2024
Insights
India, the world’s fastest-growing economy, is set to reach USD 5 trillion by 2027, becoming the third largest globally. This growth will bring numerous opportunities, especially in consumption-driven sectors like retail.
19/09/2024
MarketBeat
Retail MarketBeat report analyses quarterly Poland commercial property activity across retail sector including supply, demand and pricing trends at the market and submarket levels.
Ewa Derlatka-Chilewicz • 16/07/2024
Research • Investment / Capital Markets
At the forefront of retail real estate evolution.
Sally Bruer • 07/05/2024
Article
A Life of Luxury: Perspectives from Paris
On a recent team work trip to meet with retailers and colleagues from our Paris office, three clear trends stood out.
Duncan Gilliard • 20/09/2023
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MAIN STREETS 2022
View the 2022 Main Streets Across the World ranking and report.
