The global economy rebounded in Q3 but a resurgence of COVID-19 cases in parts of the world highlight the ongoing uncertainty of the outlook. Reflecting this, decision-making processes remain protracted as companies continue to be cautious and review long-term strategies.

In Q3 2020 global office leasing activity was 46% lower than a year ago – an improvement on Q2 where volumes were down 58% on the previous year. Retail and hospitality, as the sectors most reliant on consumer spending and mobility, continue be the most significantly impacted. Meanwhile demand for logistics space has bounced back sharply, hitting record or near-record levels in several major global markets during the quarter. E-commerce companies have been particularly active, supported by increased consumer demand for online shopping.