Post-Pandemic Comeback Predicted for CRE
The industrial sector is expected to see an average rent growth of 3.6 percent over the next three years, while rates for office space are projected to begin a steady increase only in 2023.
May 20, 2021 | Gail Kalinoski | Commercial Property Executive
Commercial real estate is ready for a rebound, and industrial will lead growth over the next three years, according to the economists and analysts interviewed for the Urban Land Institute’s semi-annual Real Estate Economic Forecast released Wednesday.
The office sector is projected to rebound by 2023 after several years of vacancy increases and rent decreases.
Based on the opinions of more than 40 economists and industry analysts, ULI’s forecast provides predictions for 27 economic and real estate indicators including housing prices, employment, GDP, inflation, vacancy rates and housing starts. Rents for five property types including industrial and office are also included.
