At the All-Europe level rental growth was positive Q/Q across the core asset classes for the thirteenth consecutive quarter, with the pace of growth in line with Q4 levels. Prime yields were broadly stable across all asset classes at the All-Europe level.
Office
The office sector continued to display strong rental performance at the All-Europe level with rents up 1.2% (Q/Q) and 4.4% (Y/Y), a marginal increase on Q4. Just over a third of markets posted growth (Q/Q) in Q1, with close to two thirds showing an increase (Y/Y), notably in the Nordics and the UK. Prime yields moved in 1bp, with most registering no movement over the quarter.
Retail
Rental growth on the high street remained robust with prime rents up 1.2% (Q/Q) at the All-Europe level taking growth to 4.1% (Y/Y), with a similar share of market movements to offices the trend is broad based. Prime yields edged out 1bp to 4.77% with a majority displaying no movement.
Logistics
Rental growth remained positive in the logistics sector, climbing 0.6% (Q/Q) and by 3.1% (Y/Y). Around a fifth of markets posted growth over the quarter and just under two thirds showing an increase (Y/Y), with the strongest growth in France and Germany. Prime yields moved out 1bp to 5.21%, with most showing no movement.
