The number of commercial real estate sales in Europe during this year’s first quarter was 26 percent below the same period in 2023, falling to a value of €34.5 billion, the Financial Times reported.
Tag: Office Building Bust
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TOP TREND 2023: OFFICE BUILDING BUST
In March, 625 commercial real estate (CRE) properties were foreclosed in the U.S., 6 percent more than in February and 117 percent more than a year earlier, according to real estate data service ATTOM.
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TOP TREND 2023: OFFICE BUILDING BUST
In this year’s first quarter, the nationwide U.S. office vacancy rate averaged a record 19.8 percent, Moody’s reported, up from 19.6 percent the previous quarter.
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TOP TREND 2023: OFFICE BUILDING BUST
Nationwide, office properties have lost about 20 percent in value since the COVID War made remote work the new normal. However, in some key markets, the plunge has been far more severe.
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TOP TREND, OFFICE BUILDING BUST: PENSION FUND DUMPS OFFICE
The Canada Pension Plan Investment Board (CPIB) was one of the earliest pension funds to put money into commercial real estate, inspiring others around the world to do the same.
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TOP TREND 2023 OFFICE BUILDING BUST: COMMERCIAL REAL ESTATE CRISIS COMING
About $929 billion in commercial real estate loans are coming due this year, the Mortgage Bankers Association (MBA) says, a jump of more than 40 percent from the $659 billion the group had estimated previously.
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OFFICE BUILDING BUST: EUROPE LEADS THE WORK REMOTELY WORLD
If you’re a footloose worker, Europe is the place to go, according to the Nordlayer Global Remote Work Index 2023.
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TOP TREND 2023, OFFICE BUILDING BUST: STERNLICHT FORECASTS $1 TRILLION IN LOSSES
“The office market has an existential crisis right now,” Barry Sternlicht, CEO of real estate investment fund Starwood Capital Group, said on 30 January at the iConnections Global Alts conference.
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TOP TREND 2023, OFFICE BUILDING BUST: BANKS DEMAND WORKERS RETURN TO THE OFFICE
Last week, Bank of America (BoA) sent “letters of education” to remote workers threatening to punish them if they fail to spend a certain minimum number of hours in the bank’s offices each week.
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TOP TREND 2023, OFFICE BUILDING BUST: IMF WARNS OF LOOMING CRISIS IN COMMERCIAL REAL ESTATE
While old news to Trends Journal subscribers, the International Monetary Fund (IMF) has become the latest entity to warn of a pending crisis in commercial real estate, a trend we have been warning about since the beginning of the COVID War in our continuing series, Office Building Bust.
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