National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CushWake Sees Office Recovering Fully by 2025
Cushman & Wakefield’s first-ever Global Office Impact Study predicts that the world’s office leasing fundamentals will be significantly impacted by the COVID-19 recession and the work-from-home trend, but will ultimately begin to improve in 2022 and fully recover by 2025. Vacancies in 2025 will average 11% and rents will return to pre-pandemic peaks.
“Even though the impact of work-from-home trends will slow the office market recovery, the overall growth in office-using job sectors along with many other factors – including agglomeration, culture/branding, and productivity – collectively indicate that the office will continue to play an important role in the economy going forward,” said Rebecca Rockey, global head of forecasting at Cushman & Wakefield.
However, Kevin Thorpe, Cushman & Wakefield’s chief economist and global head of research, pointed out, “Of course, all real estate is intensely local, and not every local market will follow the same path to recovery.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Economy
- ◦Lease
