A new McKinsey Global Institute report estimates that by 2030 across nine "superstar" cities — Beijing, Houston, London, New York City, Paris, Munich, San Francisco, Shanghai, and Tokyo — there could be a projected loss of $800 billion of office value in real terms.

And that's the "moderate" scenario.

Just over a year ago, researchers from the NYU Stern School of Business and the Columbia University Graduate School of Business concluded that the U.S. office market would see a loss of $500 billion in value.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

National
Net Lease
Office
Southwest