Cushman & Wakefield releases 2020 Global Office Impact Study

Cushman & Wakefield released its first-ever Global Office Impact Study, projecting that the world’s office leasing fundamentals will be significantly impacted by the COVID-19 recession and the work-from-home trend, but they will ultimately begin to improve in 2022 and will fully recover two to three years later.

The full recovery timeline is consistent with what was observed during the Great Recession, but at a slight lag due to the work-from-home trend. The report was developed by the firm’s newly organized Global Think Tank, a team of senior researchers and economists from around the world. The study analyzed the cyclical and structural changes impacting the global office market and the implications for recovery.

“We set out to answer the foundational and somewhat ambiguous question of ‘what will become of the office’ by taking a deep, scientific look at the forces created by this pandemic and the cumulative impacts on office sector fundamental