US office buildings are unlikely to regain their peak pre-pandemic values until at least 2040 as demand for desk space weakens, according to a forecast by Capital Economics.
Values are expected to plunge 35% from the peak by the end of 2025 and take an additional 15 years or more to recover as hybrid and remote work reshape real estate, the London-based research firm reported Thursday. It’s a trend that mirrors the collapse of shopping malls as e-commerce grew.
https://www.bloomberg.com/news/articles/2023-06-22/office-owners-get-dire-warning-rebound-unlikely-before-2040
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