Rents and capital values weakened for office and retail assets, whereas industrial assets recorded continued growth in Q4 2020.
Global industrial rent edged up by 0.5% q-o-q, with rent growth across all three regions. Retail rent dropped 2.5% q-o-q to its lowest level since 2012. Office rent declined slightly by 0.6% q-o-q, mainly due to a large decline in Asia Pacific.
Industrial capital value growth slightly slowed from last year but remained robust at 5.8% y-o-y and 2.9% q-o-q, driven by strong growth in the Americas. Retail capital value (-2.6% q-o-q) continued its downtrend that began in 2019. Office capital value also declined further by 2.3% y-o-y and 0.3% q-o-q, as office demand weakened across regions.