Taking a pulse on the impact of the pandemic on all sectors of global commercial real estate, valuation firm Duff & Phelps, in conjunction with the GRI club, surveyed over 300 directors on the state of affairs.
A vast majority of US-based responders, 83% anticipate a U-shaped recovery, and just under half of those surveyed, 49%, said little damage has been done to GDP.
However, many respondents said they expect valuations to take a big hit. Nearly four out of 10 respondents, or 39%, expect valuations to fall by 5% to 10%, and another 31% feared a heavier impact. Also telling, 90% of those surveyed are hoping that "valuations may start to creep back to their pre-pandemic levels" in 2021.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
