Main Streets across the World 2023

MAIN STREETS ACROSS THE WORLD 2023 | 6

EXECUTIVE SUMMARY 01

Rents across global prime retail destinations continued their ongoing recovery, increasing on average 4.8% in local currency terms over the past year. The strongest growth was recorded in Asia Pacific, which averaged 5.3%, with the Americas at 5.2% and Europe at 4.2%.

KEY HIGHLIGHTS

Notwithstanding comparatively strong growth over the past year, in most instances, the increase in rents did not match levels of peak inflation.

Furthermore, almost 60% of markets globally remain below pre-pandemic rental levels. This is most evident in Europe where 70% of markets are below pre-pandemic rents. In contrast, in the U.S., only 31% are below pre-pandemic levels; 69% are above.

CUSHMAN & WAKEFIELD