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New Trends in Office and Residential Real Estate

The Appraisal journal, 2023-03, Vol.91 (2-3), p.182-190 [Peer Reviewed Journal]

COPYRIGHT 2023 The Appraisal Institute ;Copyright Appraisal Institute 2023 ;ISSN: 0003-7087

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  • Title:
    New Trends in Office and Residential Real Estate
  • Author: Swango, Dan L
  • Subjects: Buildings ; Central business districts ; Corporate headquarters ; COVID-19 ; Epidemics ; Forecasts and trends ; House construction ; Leasing ; Office space ; Pandemics ; Real estate appraisers ; Real estate investment trusts ; Real estate management firms ; Real property ; Sales ; Tenants ; Trends ; Vacancies ; Workers
  • Is Part Of: The Appraisal journal, 2023-03, Vol.91 (2-3), p.182-190
  • Description: About This Column Resource Center is about all types of Information resources that may be helpful for real estate market analysts and valuers. The article notes Prior to the COVID-19 pandemic, the US office real estate market had been subject to contraction for approximately a decade as businesses tried to lower overhead by Implementing various "open office" concepts such as hoteling and/or hot-desklng. If not economically feasible to cure the deficiency, then conversion to another use, or repurposing, must be considered based on market demand for an alternative use, physical possibility, and legal permissibility (may be public and private considerations) as well as a cost-benefit analysis. Here, in the opinion of many, if not most, the general office sector is apparently some distance from a rebound- except for the high-end segment, trophy, signature, and Class A properties.4 A June 2023 Propmodo piece, "Higher Office Sales Volume Doesn't Always Mean Higher Leasing Volume" (https://bit.ly/3qp7FhG), observes that "office vacancy and occupancy rates are often discussed when assessing the health of office markets.
  • Publisher: Chicago: The Appraisal Institute
  • Language: English
  • Identifier: ISSN: 0003-7087
  • Source: ProQuest Central

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