Market Size of North America Office Real Estate Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Office Real Estate Market Analysis
The North American office real estate market is expected to register a CAGR of more than 4.5% during the forecast period.
The COVID-19 pandemic severely affected the office real estate market in North America due to restrictions and social distancing policies and the work from home culture. Now, the market is in the recovery phase but not up to the pre-pandemic levels. Furthermore, the growth of the sector is driven by increasing office space absorption, growth in leasing activities, construction of new office spaces, etc.
Furthermore, the United States is the major country in the North American office real estate market, which contributes more than 9.1 billion sq. ft of office inventory space in the suburban and downtown regions. Whereas, in the Canadian office market, growth was experienced in the Class A office market, with the highest rate of available inventory and absorption.
