Our update compares rent growth from 2008 to 2020 in primary office and industrial markets. Rent growth is expressed as an annual percentage increase or decrease based on local currency denominated rents to remove the impact of exchange rates.
Rental rates have climbed at least 25% in 15 of 44 office markets and 13 of 40 industrial markets.
UPDATE: Peak of the Cycles, Comparison of Rent Growth
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Colliers.com Global Occupier Guide Lease Compass Download Report
APAC
EMEA
AMERICAS
Rent Growth Breakdown by Region/Market (2008-2020)
Top 3 Office Markets Worldwide for Rent Growth:
Vancouver
Canada
121.8%
AMER
25% Growth
15 of 44 Markets
10% Growth
25 of 44 Markets
OFFICE
KEY DATA POINTS
Colliers.com Global Occupier Guide Lease Compass Download Report
The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.
A Global Look across more than 40 markets –
Beijing
China
116.16%
APAC
Sydney
Australia
89.7%
APAC
Toronto
Canada
69.7%
CAN
Guangzhou
China
82.0%
APAC
Hong Kong (HKG)
China
101.5%
APAC
Top 3 Industrial Markets Worldwide for Rent Growth:
25% Growth
13 of 40 Markets
10% Growth
22 of 40 Markets
INDUSTRIAL
Office
Rental Growth Change
13.6%
Manhattan (NY)
San Francisco
(CA)
Manhattan
(NY)
Boston
(MA)
Washington DC
(DC)
Seattle
(WA)
Chicago
(IL)
Los Angeles
(CA)
Houston
(TX)
Atlanta
(GA)
Dallas
(TX)
65.0%
SAN FRANCISCO (CA)
18.2%
Boston (MA)
15.7%
Washington DC (DC)
53.0%
Seattle (WA)
21.0%
Chicago (IL)
28.0%
Los Angeles (CA)
15.0%
Houston (TX)
36.9%
Atlanta (GA)
11.9%
Dallas (TX)
Class A CBD Office | Prime Headline Rent
Rental Growth Change
-5.1%
Atlanta (GA)
18.5%
0.4%
Chicago (IL)
-10.7%
Houston (TX)
9.7%
Phoenix (AZ)
9.9%
Philadelphia (PA)
1.7%
12.9%
Inland Empire (CA)
26.0%
27.3%
Los Angeles County (CA)
Los Angeles County (CA)
Northern New Jersey (NJ)
Inland
Empire (CA)
Central New Jersey (NJ)
Philadelphia
(PA)
Phoenix
(AZ)
Houston
(TX)
Chicago
(IL)
Dallas-Fort Worth (TX)
Atlanta
(GA)
Northern New Jersey (NJ)
Central New Jersey (NJ)
Dallas-Fort Worth (TX)
U.S. Dollar/Square Feet/Year
U.S. Dollar/Square Feet/Year
Key industrial markets | Prime Logistics & Distribution
Canada
Rental Growth Change
69.6%
40.9%
Ottawa (CAN)
31.6%
121.8%
Vancouver
(CAN)
Toronto
(CAN)
Ottawa
(CAN)
Montreal
(CAN)*
U.S. Dollar/Square Feet/Year
Class A CBD Office | Prime Headline Rent
Industrial
U.s.
Office
U.s.
*2012 Q1 Data
Rents reported as net
Vancouver (CAN)
Toronto (CAN)
Montreal (CAN)*
Rental Growth Change
40.2%
Montreal (CAN)
69.7%
52.1%
Edmonton
(CAN)
Toronto
(CAN)
Montreal
(CAN)
U.S. Dollar/Square Feet/Year
Key industrial markets | Prime Logistics & Distribution
Industrial
Canada
Edmonton (CAN)
Toronto (CAN)
Rents reported as net
Rental Growth Change
10.8%
San Jose (CRC)
21.4%
Panama City (PAN)
259.3%
Bogota (COL)
U.S. Dollar/Square Feet/Year
Key industrial markets | Prime Logistics & Distribution
Rental Growth Change
-17.8%
Panama City (PAN)
-1.6%
San Jose (CRC)
-11.7%
Buenos Aires (ARG)
12.5%
Mexico City (MEX)
Mexico City
(MEX)
Panama City
(PAN)
Bogota
(COL)
Lima
(PER)
U.S. Dollar/Square Feet/Year
Class A CBD Office | Prime Headline Rent
Office
LATAM
Industrial
LATAM
Buenos Aires
(ARG)
San Jose
(CRC)
Rio de Janeiro
(BRA)
Santiago
(CHI)
Sao Paulo
(BRA)
-45.0%
Rio de Janeiro (BRA)
-3.7%
Bogota (COL)
-37.1%
Santiago (CHI)
-4.0%
Lima (PER)
-47.0%
Sao Paulo (BRA)
Bogota
(COL)
Panama City
(PAN)
San Jose
(CRC)
Lima
(PER)
Buenos Aires
(ARG)
Mexico City
(MEX)
Santiago
(CHI)
Rio de Janeiro
(BRA)
Sao Paulo
(BRA)
36.4%
Lima (PER)
11.4%
Buenos Aires (ARG)
-1.9%
Mexico City (MEX)
-7.5%
Santiago (CHI)
-30.9%
Rio de Janeiro (BRA)
-27.6%
Sao Paulo (BRA)
2020
2008
Rental Growth Change
-56.9%
Moscow (RUS)
-6.8%
22.6%
Amsterdam (NLD)
-17.7%
Paris (FRA)
-42.1%
Madrid (ESP)
14.5%
Hamburg (DEU)
10.0%
22.7%
Copenhagen (DNK)
58.3%
30.6%
London - Heathrow (GBR)
Stockholm
(SWE)
Copenhagen
(DNK)
Munich
(DEU)
Hamburg
(DEU)
Madrid
(ESP)
Paris
(FRA)
Amsterdam
(NLD)
Milan
(ITA)
Moscow
(RUS)
U.S. Dollar/Square Feet/Year
Key industrial markets | Prime Logistics & Distribution
Rental Growth Change
17.6%
Hamburg (DEU)
-12.9%
Madrid (ESP)
-6.5%
Rome (ITA)
73.9%
Berlin (DEU)
13.1%
Munich (DEU)
0.0%
Milan (ITA)
55.1%
Stockholm (SWE)
-22.3%
Moscow (RUS)
4.9%
Paris (FRA)
9.1%
London (GBR)
London
(GBR)
Paris
(FRA)
Moscow (RUS)
Stockholm (SWE)
Milan
(ITA)
Munich
(DEU)
Berlin
(DEU)
Rome
(ITA)
Madrid
(ESP)
Hamburg (DEU)
U.S. Dollar/Square Feet/Year
CBD Office | Prime Headline Rent
Industrial
EMEA
Office
EMEA
- The growth rates are based on local currency denominated rents, to eliminate any exchange rate impact.
- The office markets are ranked by inventory, industrial markets are only a selection of key markets as the exact size of many of the markets is not known.
(LCR denominated)
London - Heathrow (GBR)
Stockholm (SWE)
Munich (DEU)
Milan (ITA)
(LCR denominated)
Rental Growth Change
4.2%
Melbourne
6.4%
Sydney
Sydney
Melbourne
U.S. Dollar/Square Feet/Year
Key industrial markets | Prime Logistics & Distribution
Rental Growth Change
83.1%
Melbourne
89.7%
Sydney
Sydney
Melbourne
U.S. Dollar/Square Feet/Year
KEY OFFICE MARKETS | Prime Headline Rent
Rental Growth Change
9.7%
Shenzhen (CHN)
82.0%
Guanghzou (CHN)
30.5%
50.7%
Beijing (CHN)
-33.0%
101.5%
Hong Kong (HKG)
Singapore (SGP)
Beijing
(CHN)
Shanghai (CHN)
Guanghzou (CHN)
Shenzhen (CHN)
U.S. Dollar/Square Feet/Year
Key industrial markets | Prime Logistics & Distribution
Rental Growth Change
42.4%
Guanghzou (CHN)
-0.4%
Seoul (KOR)
78.0%
Shenzhen (CHN)
11.8%
Taipei (TWN)
-11.3%
Shanghai (CHN)
116.6%
Beijing (CHN)
-16.5%
Singapore (SGP)
-15.4%
Tokyo (JPN)
2.4%
Hong Kong (HKG)
Hong Kong (HKG)
Tokyo
(JPN)
Singapore (SGP)
Beijing
(CHN)
Shanghai (CHN)
Taipei
(TWN)
Shenzhen (CHN)
U.S. Dollar/Square Feet/Year
KEY OFFICE MARKETS | Prime Headline Rent
Industrial
ANZ
Office
ANZ
Industrial
APAC
Office
APAC
Seoul
(KOR)
Guanghzou (CHN)
Hong Kong (HKG)
Singapore (SGP)
Shanghai (CHN)
2020
2008
2020
2008
2020
2008
2020
2008
2020
2008
2020
2010
2020
2010
2020
2008
2020
2008
2020
2008
2020
2008
Sydney
(AUS)
Melbourne
(AUS)
89.7%
Sydney (AUS)
83.1%
Melbourne (AUS)
Sydney
(AUS)
Melbourne
(AUS)
6.4%
Sydney (AUS)
4.2%
Melbourne (AUS)