Commercial Real Estate Services Procurement Intelligence expected to grow at a CAGR of 5.1% from 2023 to 2030
Commercial Real Estate Services Procurement Intelligence The commercial real estate services category is expected to grow at a CAGR of 5.1% from 2023 to 2030. The rising inflation Fed interest rate, and the post-pandemic situation have slowed down the commercial real estate sector across the globe. However, with the normalization of COVID-19, companies plan to increase their physical presence. On the other hand, multifamily, and industrial asset classes have performed well. In 2023, the Industrial segment of the commercial real estate category has continued to showcase strength. The demand for warehouse and distribution space has been bolstered by increasing e-commerce sales and disruptions in the supply chain. According to the National Association of Realtors April 2023 report, the industrial vacancy rate stands at a low of 4.3%. Additionally, the industrial rent growth rate remains robust, reaching 10.3%. Warehouses have experienced an impressive 11.7% growth in rental p...