The “2024 Global Commercial Real Estate Investments Report” published by London-based real estate consultancy giant Knight Frank LLP gives signals of transformation in the commercial real estate world. With new trends and changing business dynamics, the sector is expected to boom in 2024.
In the past weeks, the “2024 Global Commercial Real Estate Investments report” of Knight Frank, a global real estate consultancy and real estate agency based in England, was published.
The report stated that there was a contraction in office and commercial real estate investments in 2023, and expectations for 2024 were also included. According to the report; It is expected that 56% of global companies will adopt the hybrid working system in the next 3 years. It is emphasized that 23% of this figure will remain in an office-centered system.
The report emphasizes that remote working preferences have decreased to 3%, and states that the decrease in this figure shows that the demand for the office market has potential in the coming period.
According to Knight Frank’s 2024 Global Commercial Real Estate Investments report, it is stated that in 2024, companies will continue to prefer modern and sustainable office spaces suitable for their business models.
ACTIVITY IS ALSO EXPECTED IN THE COMMERCIAL REAL ESTATE MARKET
Ali Emre Bilgic, Board Member of Bilgicler Yapi, which has produced 141 thousand square meters of commercial real estate in Istanbul to date, said, “There was a serious contraction in the housing market in 2023. Despite this, commercial real estate investors did not slow down as much as residential investors. There was a slowdown in Turkiye as well as in the global market. However, our expectations for a decrease in inflation and a decrease in interest rates indicate that there will be activity in 2024.”
OFFICES SUITABLE FOR SUSTAINABILITY ARE PREFERRED
“We observe that investors’ interest is not diverted from commercial real estate. There is no decrease in the appetite of commercial real estate and office investors, as it is an instrument from which they can earn profits at the inflation rate. We observe the demand for new or renovated office-shop spaces with the best amenities, energy efficiency and international standards.”
Source: Patronlardunyasi / Prepared by Irem Yildiz