In Colliers’ Occupier Services Peak Cycle Comparison of Rent Growth report, we take a global look across more than 40 markets – comparing rent growth between peak cycles (2008 to 2018) in primary office and industrial markets. Rent growth is expressed as an annual percentage increase or decrease based on local currency denominated rents to eliminate the impact of exchange rates.
Overall, both office and industrial rental rates have climbed at least 25% in 10 or more of the markets covered.
- Industrial rental rates have climbed with more than half of the markets experiencing growth rates greater than 10%.
- The top three industrial markets for rent growth are all outside of the U.S., two of which are in APAC (Guangzhou, China and Hong Kong) and one in EMEA (Stockholm, Sweden).
- The top three U.S. industrial markets for rent growth are Dallas-Fort Worth (TX); Inland Empire (CA); and Central New Jersey.
- Office rental rates have increased substantially with nearly a quarter of the markets experiencing growth rates greater than 25%.
- The top three office markets for rent growth are also all outside of the U.S., with the top market in Ottawa, Canada and the following markets in China (Shenzhen and Beijing).
- The top three U.S. office markets for rent growth are San Francisco (CA); Houston (TX); and Washington, D.C.
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