Rents and capital values continued to fall for office and retail assets, whereas industrial assets remained resilient in Q3 2020.
Industrial rents (0.1% q-o-q) edged higher in the second quarter, driven by Americas demand. Retail rents (-3.9% q-o-q) and office rents (-1.3% q-o-q) fell across regions and fell the most q-o-q in the Americas. The softness was in sync with slow leasing activities and low business confidence as a result of COVID-19 resurgences.
Capital value grew 1.7% q-o-q in the industrial sector while declined 3.1% q-o-q in retail. Office capital value observed no change from the previous quarter. The surprising growth in EMEA office capital value offset the decreases in Americas and Asia Pacific.