Podcast | Intelligent Investment

Don’t Look Back: What’s Ahead for Commercial Real Estate

August 8, 2023 39 Minute Listen

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Are we through the worst of the downturn? CBRE Global Chief Economist Richard Barkham offers insights on the outlook for the rest of 2023 and beyond, and CBRE Research’s sector specialists chime in with commentary from last week’s Midyear Global Real Estate Market Outlook.

Don’t Look Back: What’s Ahead for Commercial Real Estate

August 8, 2023 39 Minute Listen

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Unique insights on what matters most today in commercial real estate.

Key Takeaways:

  1. The global economy has proved more resilient than expected and the interest rate hiking cycle may be nearing its peak. A capital markets recovery is not expected until 2024.
  2. The office downturn is both cyclical and structural. Still, when all of the good quality space currently on the market is absorbed, there will be an upswing in the office sector, as has happened in every cycle for the last 40 years.
  3. The industrial sector remains strong due to e-commerce, reshoring of manufacturing and U.S. government initiatives like the CHIPS Act and the Inflation Reduction Act.
  4. Multifamily and hotels are rebounding post-pandemic, with strong fundamentals driven by demographic shifts.
  5. Retail has improved due to limited development, strong post-pandemic consumer demand and expansion opportunities in secondary and tertiary markets.
  6. The digital economy and AI are driving strong demand for data centers, although limited supply, power, and water may constrain growth.

Guest Information:

CBRE Global Research Leadership


Photo of Spencer Levy

Spencer Levy

Global Client Strategist & Senior Economic Advisor, CBRE

Spencer Levy is Global Client Strategist and Senior Economic Advisor for CBRE, the largest commercial real estate services firm in the world. In this role, he focuses on client engagement and public-facing activities, including thought leadership work performed in conjunction with CBRE Research. He also serves as Co-Chair of the Real Estate Roundtable’s Research Committee.


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