There are a lot of wary big real estate operations globally, according to a new survey by Deloitte. A survey of 450 CFOs of the organizations across North America, Europe, and Asia/Pacific showed serious revenue concerns. Included were real estate companies with assets under management of at least US $100 million.

"While 40% of respondents expect their revenues to improve compared to last year, 48% see revenues decreasing, and 12% expect no change," the report said. "In contrast, last year's survey results were much more optimistic: 80% of respondents indicated revenue expectations would be slightly to significantly better than the prior year. Of course, those expectations came in the wake of a very challenging 2020."

In the face of lower revenue at many, a third said they're planning to cut costs. That compared to only 6% last year expecting to work on reducing expenses.