Commercial Real Estate Under Pressure

Commercial real estate under pressure

March 29, 2021

The decline in commercial real estate caused by the pandemic could affect global financial stability. (Istock by Getty Images / YvanDube)

2020 was a record year for real estate markets in many countries – including the US – but it was a whole different story for the commercial real estate sector. Lockdown and containment measures severely affected economic activity, depressing commercial real estate transactions and prices in cities around the world. A new analytical chapter in the Global Financial Stability Report looks at how persistent price pressures could jeopardize financial stability and hinder recovery. On this podcast, lead author Andrea Deghi and team leader Mahvash Qureshi say that the vacancy rate of office space in the US almost doubled in 2020 as people have to work from home. This trend is likely to continue well beyond the pandemic.

Read the analytical chapter

Read the blog

Mahvash Qureshi is Head of Department in the IMF’s Money and Capital Markets Department. Andrea Deghi is a financial sector expert in the Global Financial Stability Analysis Division of the Money and Capital Markets Division.

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March 29, 2021 at 2:21 pm GMT

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