Frequent question: What percent of commercial real estate is office space?

How big is the CRE market?

In 2020, the estimated value of the global commercial real estate market was approximately 32.6 trillion U.S. dollars, up from 30.3 trillion U.S. dollars in 2019.

How many commercial offices are there in the US?

In the U.S., 5.9 million commercial buildings contained 97 billion square feet of floor space in 2018—an increase of 56% in number of buildings and 90% in floor space since 1979. By 2050, commercial building floor space is expected to reach 124.3 billion square feet, a 33% increase from 2020.

What is the size of the commercial real estate market in the US?

The total size of commercial real estate in the U.S. was estimated $16 trillion in 2018. Nareit estimates that the 2018 total dollar value of commercial real estate was between $14 and $17 trillion, with a mid-point of $16 trillion. This study was conducted primarily using data from CoStar and other sources.

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How many commercial real estate properties are in the US?

There are 2,251,786 Commercial Real Estate businesses in the US as of 2022, an increase of 1.7% from 2021.

How large is the real estate industry 2021?

C.A.R.’s “2022 California Housing Market Forecast” assumes a 5.2 percent decrease in existing single-family home sales next year, to 416,800 units, down from the predicted 439,800 units in 2021.

How big is the real estate industry 2021?

According to a new Zillow report, the total value of the private residential real estate in the United States increased by a record $6.9 trillion in 2021, to $43.4 trillion, Since the lows of the post-recession market and the corresponding building slump, the value of housing in the United States has more than doubled.

Who owns the most commercial property in the United States?

Blackstone Group

Blackstone owns 153 million square feet of office space globally, and is the largest owner of office property in the U.S.

What is the US office vacancy rate?

Office vacancy rates in the U.S. 2019-2021

In the United States, vacancy rates across the office sector increased to an average of 12.4 percent in the third quarter of 2021.

How big is the average office building?

The average size of buildings constructed before 1960 (26% of the commercial building stock) is 12,000 square feet; buildings constructed between 1960 and 1999 (55%) average 16,300 square feet; and buildings constructed in the 2000s (18%) average 19,000 square feet.

Is real estate a trillion dollar industry?

2021 is On Pace to be the First Multi-Trillion Dollar Real Estate Market. … Through the second quarter of 2021, the total value of residential real estate transactions was over $600 billion for the third time in the past year, for a total of $750 billion.

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How big is the US multifamily market?

With a transaction value of close to 140 billion U.S. dollars in 2020, the multifamily real estate market accounted for almost half of the total commercial property market.

How big is the real estate industry 2020?

Market size increased in 2020

The size of the professionally managed global real estate investment market increased from $9.6 trillion in 2019 to $10.5 trillion in 2020.

How many office buildings are there in the United States?

CBECS estimates that 5.9 million U.S. commercial buildings contained a total of 97 billion square feet as of 2018. The number of commercial buildings increased by 6%, and commercial square footage increased by 11% since the CBECS was last conducted in 2012.

How many commercial buildings are in the US 2020?

5.5 million commercial buildings. 350,000 industrial buildings. 240,000 military buildings.