Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Global Office Impact Study & Recovery Timing Report

Kevin Thorpe • 9/22/2020
An analysis of COVID-19’s impact on the office sector: forecasts and outcomes.

Global Office Outlook (image)

An analysis of COVID-19’s impact on the office sector: forecasts and outcomes

This study is the first in a three-part series that provides a new perspective on COVID-19’s impact on the commercial real estate (CRE) industry and the future of the office. In part one, “Global Office Impact Report and Recovery Timing,” we examine the aggregate cyclical and structural impacts on the office sector. We also present forecast scenarios and/or possible outcomes. 

Part 1 of our Series “New Perspective: From Pandemic to Performance” 

COVID-19 is disrupting the economy, accelerating shifts and creating structural changes that will persist for years. Several forces are at play—from office-using job losses, to higher vacancy and downward pressure on rental rates, to an increase in the share of employees who will now work from home either permanently or more regularly. 
 
In this study: 

  • We examine both the aggregate cyclical and structural impacts on the office sector’s fundamentals.

  • We present three forecast scenarios that illustrate probable and/or possible recovery timing based on the information at hand today.

Key findings include:  

  • Global office vacancy will rise from 10.9% pre-crisis (2019 Q4) to 15.6% in 2022 Q2.

  • As the economy and employment recover, the globe’s office sector begins absorbing space in 2022 Q1 and vacancy begins trending downwards from that point forward. Global office vacancy returns to pre-crisis levels of approximately 11% by 2025.   
  • Rents bottom in 2022 Q1 and begin appreciating from that point forward, returning to pre-crisis peak levels in 2025.  

  • The potential reversal of a decades-long trend of densification in which businesses have been absorbing less space per office-using employee. COVID-19 is requiring society to social distance in the near-term and disrupting the trend.

Download study External Link

포브스 선정, 미국 최대 고용주
미국 최고의 다+B4:C7양성 존중 고용주로 선정
자세히 알아보기
Global Office Impact Webinar (image) Global Office Impact Webinar (image)

Global Office Impact Study & Recovery Timing

포브스 선정, 미국 최대 고용주
미국 최고의 다+B4:C7양성 존중 고용주로 선정
자세히 알아보기

Related Insights

What's your take card (image)
Video • Workplace

What’s your take…on the recovery of offices

In this episode of "What's your Take', Global Head of Forecasting, Rebecca Rockey, joins me to talk about the economy, timing of the recovery and more.
Rebecca Rockey • 10/8/2020
recovery readiness guide 2.0 card (image)
Research • Workplace

Recovery Readiness: A How-to Guide for Reopening your Workplace

The “Recovery Readiness: A How-to Guide for Reopening your Workplace,” outlines some of the best thinking and practices that our more than 53,000 professionals have compiled across the globe and also includes insights from key partners.
9/2/2020
추가 옵션
동의 후 종료


이러한 쿠키를 통해 당사는 마케팅 파트너와 협력하여 여러분이 웹사이트에 접속하기 전에 클릭하신 광고 또는 링크를 파악하거나 당사의 광고가 여러분에게 보다 관련이 있도록 지원할 수 있습니다.
모두 동의
모두 거부
설정 저장