Retail Revival: Rental Rates Hang Tough Around the Globe
Despite a backdrop of a lethargic global economy and continued uncertainty surrounding the euro zone, prime retail rents were resilient over the year to June 2012, according to Cushman & Wakefield’s latest Main Streets Across the World report.
An expansion of 4.5 percent provided for a largely positive growth picture, with rents rising in 147 of the 326 locations surveyed, but declining in 49.
Globally, rental appreciation was driven by strong performance in the Americas and Asia Pacific. The Americas registered the largest expansion at 10.9 percent. The report also stated that alongside emerging South American markets, rises in North American locations had a stronger impact than in the previous year.
Across Europe, the Middle East and Africa (EMEA), retail sector performance remained deeply polarized during the past year, with premier locations att