Retail rents in markets across the Americas now stand a whopping 15% above pre-pandemic levels, according to a new report from Cushman & Wakefield.

The firm’s Main Streets Around the World report — Cushman’s first in three years — notes that rents across global prime retail destinations slumped 13% from before the pandemic to hit their lowest point on average, but have subsequently rebounded to sit 6% below pre-pandemic levels. Rent growth has been more wobbly in regions like Asia-Pacific, where rents fell on average by 17% during the pandemic (and in cities like the Luohu district  of Shenzhen in China, rents declined by 30% over the past year).

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Lynn Pollack

 

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