Retail remains the hardest hit sector in Q2 2021, with rent and capital value falling by 9% and 7%, respectively. The office rents continued to slide for the fifth consecutive quarter, falling by 2%, while office capital value reversed trend and grew by 0.2% from the previous year. The industrial sector continued its growth, with rents and capital value increasing by 3% and 13% respectively.

Office rents edged higher in EMEA, the only region to report growth. Industrial rents observed growth across all regions, with Americas observing the largest increase amongst the three major regions. Retail rents continued to fall globally, with APAC reporting the smallest decline on robust growth in China and resilience in Tokyo and Singapore.

Office capital value reversed its three-quarter decline on strong growth in EMEA. Industrial capital value continues to inflate, with Americas observing the largest quarter increase in capital value growth on record. Retail capital value continues to deteriorate, a trend that began before the pandemic and has only accelerated since the pandemic started.