The coronavirus (COVID-19) pandemic has led to major cyclical and structural changes in the office real estate sector. As a result of the economic downturn and rising unemployment, along with an increasing share of businesses that introduce the option to work from home, office real estate rents in certain regions worldwide are forecast to experience a short term decline. The Asia Pacific region is forecast to see the highest drop in rents, at 13.1 percent in 2021 followed by a gradual recovery to 7.1 percent in 2024.
Rental growth of office space worldwide in 2019 with a forecast from 2020 to 2024, by region
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Cushman & Wakefield. (September 29, 2020). Rental growth of office space worldwide in 2019 with a forecast from 2020 to 2024, by region [Graph]. In Statista. Retrieved May 23, 2024, from https://www.statista.com/statistics/1196929/office-real-estate-rental-growth-globally-by-region/
Cushman & Wakefield. "Rental growth of office space worldwide in 2019 with a forecast from 2020 to 2024, by region." Chart. September 29, 2020. Statista. Accessed May 23, 2024. https://www.statista.com/statistics/1196929/office-real-estate-rental-growth-globally-by-region/
Cushman & Wakefield. (2020). Rental growth of office space worldwide in 2019 with a forecast from 2020 to 2024, by region. Statista. Statista Inc.. Accessed: May 23, 2024. https://www.statista.com/statistics/1196929/office-real-estate-rental-growth-globally-by-region/
Cushman & Wakefield. "Rental Growth of Office Space Worldwide in 2019 with a Forecast from 2020 to 2024, by Region." Statista, Statista Inc., 29 Sep 2020, https://www.statista.com/statistics/1196929/office-real-estate-rental-growth-globally-by-region/
Cushman & Wakefield, Rental growth of office space worldwide in 2019 with a forecast from 2020 to 2024, by region Statista, https://www.statista.com/statistics/1196929/office-real-estate-rental-growth-globally-by-region/ (last visited May 23, 2024)
Rental growth of office space worldwide in 2019 with a forecast from 2020 to 2024, by region [Graph], Cushman & Wakefield, September 29, 2020. [Online]. Available: https://www.statista.com/statistics/1196929/office-real-estate-rental-growth-globally-by-region/