From the course: Introduction to Commercial Real Estate Analysis
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Overview of office asset class
From the course: Introduction to Commercial Real Estate Analysis
Overview of office asset class
- [Instructor] Hey welcome back, in this section, we are going to look at the Office asset class. So I want to give you a quick peak of what's been happening in the sector here. And, what we're seeing right now is that Global Office Demand has been increasing steadily since the recession that began in 2008. And the overall global demand over the last four years for total lease global office space, in terms of total volume, has been just over forty million square meters. Now, that's pretty well above, sort of the long term average and we haven't seen those levels since pre-recession. And this year we're expected to have that same level of demand in the key markets here. Now, looking at globally at sort of three major markets, if we lump up the Americas, North and South America markets, lump up all of the European markets and all of Asia together, what we've been seeing since the recession is that there's been a steady decline in vacancy rates, especially in the Americas and across…
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