August 6, 2020
Commercial real estate’s rebound will lag that of the overall economy, CBRE says in its Global Real Estate Market Outlook 2020 Mid-Year Review. The firm expects the industrial & logistics and multifamily sectors to make the quickest comebacks, with other sectors taking longer to recover.
“The blows that the pandemic dealt to the global economy this year were swift and significant, but we’re now set for a strong recovery starting in this year’s second half and extending through 2021,” said Richard Barkham, CBRE global chief economist and head of Americas research.
He continued, “Additional rounds of government stimulus are in the works to bolster economies, but let’s be clear, it will take years for commercial real estate activity levels to return fully to pre-pandemic levels. The recession likely will keep interest rates low for several years, which will maintain the flow of capital into commercial real estate.”
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