Net absorption in the largest office markets worldwide forecast 2019-2024, by region

Net absorption of office space worldwide in 2019 and forecast from 2020 to 2024, by region

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Release date

September 2020


Worldwide, Canada, Europe, China, United States, APAC

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Supplementary notes

The source defines net absorption as "the net change in occupied inventory, which captures the net effect of move-ins (associated with leasing activity) and move-outs".
The forecast shows a baseline scenario with the following assumptions: "A vaccine is available by mid-2021 after medical/government approval by the end of 2020.
• No major second wave that requires widespread lockdowns.
• Businesses reopen gradually as the virus still ebbs and flows until a vaccine is available.
• Bankruptcies pick up as businesses adjust to lower demand and policy support expires in certain countries.
• Financial market sentiment improves in 2020 H2.
• Improving global demand supports a recovery in trade flows and commodity prices.
• Real GDP returns to pre-COVID-19 levels by 2021 Q3."

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