According to the global chief economist for CBRE, high interest rates will make 2023 a challenging year for commercial real estate. Still, he doesn’t predict a deep recession leaving an optimistic CRE outlook for the year ahead.
Left for dead by Covid-19 in 2020, the CRE market roared back to life in 2021 with record-breaking sales of $809 billion. But the arrival of unrestrained inflation and soaring interest rates may signal the party’s over. Being sensitive to economic cycles when buying, selling or hanging on is essential for success in commercial real estate. CLICK ON THE HEADLINE FOR MORE
The commercial market is expected to perform well despite the headwinds of rising interest rates, especially in the short term. While the commercial market generally follows the overall economy, some things are different this time. CLICK ON THE HEADLINE FOR MORE
