The rebound for commercial real estate will lag that of the overall economy, with recovery in most sectors expected to start this year and continue through 2021, according to CBRE’s Global Real Estate Market Outlook 2020 Mid-Year Review report.
CBRE foresees that globally, the industrial and logistics and multifamily sectors will make the quickest comebacks from the pandemic-induced recession. The former will benefit from the acceleration of ecommerce, and the latter from demographic trends that favor renting.
Other sectors will take longer to absorb fundamental shifts: Offices will accommodate a more hybrid workforce that operates from both workplaces and remote locations; hotels must wait for corporate and group travel to resume before a full recovery; and retail properties will have to adapt to the accelerated rise of e-commerce and fewer but higher-spend
