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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 demand in certain regions worldwide is forecast see a short term decline. In 2022, office real estate vacancy rates are forecast to peak at 17.4 percent in the United States, 10.5 percent in Europe, and 25.9 percent in Greater China. In the Asia Pacific region and in Canada, vacancies are expected to reach their highest point in 2022.
Vacancy rate of office space worldwide in 2019 with a forecast from 2020 to 2024, by region
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Cushman & Wakefield. (September 29, 2020). Vacancy rate of office space worldwide in 2019 with a forecast from 2020 to 2024, by region [Graph]. In Statista. Retrieved May 13, 2024, from https://www.statista.com/statistics/1196924/vacancy-office-real-estate-globally-by-region/
Cushman & Wakefield. "Vacancy rate of office space worldwide in 2019 with a forecast from 2020 to 2024, by region." Chart. September 29, 2020. Statista. Accessed May 13, 2024. https://www.statista.com/statistics/1196924/vacancy-office-real-estate-globally-by-region/
Cushman & Wakefield. (2020). Vacancy rate of office space worldwide in 2019 with a forecast from 2020 to 2024, by region. Statista. Statista Inc.. Accessed: May 13, 2024. https://www.statista.com/statistics/1196924/vacancy-office-real-estate-globally-by-region/
Cushman & Wakefield. "Vacancy Rate 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/1196924/vacancy-office-real-estate-globally-by-region/
Cushman & Wakefield, Vacancy rate of office space worldwide in 2019 with a forecast from 2020 to 2024, by region Statista, https://www.statista.com/statistics/1196924/vacancy-office-real-estate-globally-by-region/ (last visited May 13, 2024)
Vacancy rate 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/1196924/vacancy-office-real-estate-globally-by-region/