Office Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Global Office Real Estate Market Report is Segmented by Geography (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America, and the Rest of the World). the Report Offers the Market Sizes and Forecasts for the Office Real Estate Market in Value (USD) for all the Above Segments.

Office Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Office Real Estate Market Size

Office Real Estate Market Summary
Study Period 2020 - 2030
Market Size (2025) USD 2.21 Trillion
Market Size (2030) USD 2.84 Trillion
CAGR (2025 - 2030) 5.17 %
Fastest Growing Market Asia-Pacific
Largest Market Europe
Market Concentration Low

Major Players

Office Real Estate Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Office Real Estate Market with other markets in Real Estate and Construction Industry

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Office Real Estate Market Analysis

The Office Real Estate Market size is estimated at USD 2.21 trillion in 2025, and is expected to reach USD 2.84 trillion by 2030, at a CAGR of greater than 5.17% during the forecast period (2025-2030).

The market is driven by the growing demand for offices by the new companies entering the market. Furthermore, the market is driven by the increasing demand in the European and GCC markets.

  • Office space absorption in the leading office real estate markets remained negative in the first quarter of 2022, which means that more space was vacated than leased. In San Francisco, California, the hub of American technology, as well as Manhattan, New York, the center of American finance and location of the New York Stock Exchange, these circumstances prevailed. The vacancy rate in Dallas and Houston, Texas, was higher than 29%. The COVID-19 outbreak led to the closure of offices, resulting in a decrease in demand for traditional office spaces. Many companies downsized, switched to a hybrid working style, didn't renew their leases, or put off plans to expand their office space. As a result, leasing activity decreased, and vacancy rates increased.
  • Investment activity decreased during the start of the COVID-19 pandemic but surged in 2021 and nearly returned to pre-pandemic levels. Despite the swings, rents have been growing gradually in recent years and are likely to keep doing so. The office rental index shows that as of September 2021, gross rents had increased by more than 24% since the index's base value of 100 was created in 2008. The most expensive office markets were in Manhattan, NY, and San Francisco, CA, with annual square footage rents of 129 and 97 dollars, respectively.
  • The COVID-19 pandemic significantly reduced lease activity in the European office real estate market in 2020 and 2021. Although take-up in both years fell short of the five-year norm, there was a noticeable increase in the second half of 2021. The take-up of 4.31 million square meters in the first half of 2022 indicated that the European office market is on the fast track to recovery. Some of the busiest office real estate investment markets in Europe continue to be seen in the big four German cities of Berlin, Hamburg, Munich, and Frankfurt, as well as Paris and London. Office space in Metro Manila, Philippines, cost 1,037 Philippine pesos (19.01 USD) per square meter per month in the second quarter of 2022. About 47.4 thousand square meters of Grade A office space were added to the Metro Manila stock during the same quarter. However, office real estate properties typically do not receive the same tax incentives as residential properties do, so property taxes, rental taxes, and the lack of loan repayment rebates may be a factor for potential investors to consider.

Office Real Estate Industry Overview

The report covers major players operating in the office real estate market. The office real estate market is relatively fragmented. The office real estate market is attracting a lot of investments supported by an increasing number of real estate acquisitions as well as an increase in new property builders. Some of the leading players in the office real estate market include Hines, Skanska, Mitsubishi Estate, Delhi Land & Finance, JLL, Colliers International, and many more. Office real estate leases are typically long-term, and every three years, the rental rate increases by 15%, making it profitable for developers. This has fueled the creation of several new office space projects that are currently under construction and will be open soon. For instance, Tata Realty and Infrastructure Limited (TRIL) is constructing grade A+ office space for corporate leasing in Gurugram sector 59, which is 550,000 sq. ft. and will likely be available by December 2026.

Office Real Estate Market Leaders

  1. Hines

  2. Skanska

  3. Colliers International

  4. Delhi Land & Finance

  5. JLL

  6. *Disclaimer: Major Players sorted in no particular order
Office Real Estate Market Concentration
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Office Real Estate Market News

September 2023: Viacom18, the broadcasting arm of Indian billionaire Mukesh Ambani, is about to sign a leasing agreement with Blackstone-owned Nucleus Office Parks for its new headquarters in Mumbai, which will be stretched across 400,000 square feet. In India, Viacom competes with companies like Walt Disney (DIS.N), which has TV networks and the digital streaming service JioCinema. Its new headquarters will be located in Mumbai's Lower Parel commercial sector on around eight floors of the "One International Centre" project.

May 2023: RML (Raimon Land Public Company Limited), a pioneer in the development of luxurious real estate, along with Mitsubishi Estate (Thailand) Co., Ltd., a global real estate behemoth from Japan and the joint venture partner of OCC (One City Centre), recently welcomed CBRE (Thailand) Company Limited (CBRE) as a new tenant of OCC, which CBRE will use as its new headquarters.

March 2023: To target private equity and real estate possibilities in the third-largest economy in the world, Japan, Bahrain-based alternative assets management Investcorp has launched an office there. With plans to expand the staff by the end of the year, the new office, which is situated on the 12th floor of the Yurakucho Denki Building North Tower in Tokyo's Chiyoda area, presently employs five individuals.

Office Real Estate Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Current Market Scenario
  • 4.2 Technological Innovations in the Office Real Estate Market
  • 4.3 Impact of Remote Working on Space Demand
  • 4.4 Government Regulations and Initiatives in the Industry
  • 4.5 Insights into Rental Yields in the Office Real Estate Segment
  • 4.6 Industry Value Chain Analysis
  • 4.7 Insights into the Key Office Real Estate Industry Metrics (Supply, Rentals, Prices, Occupancy/Vacancy (%))
  • 4.8 Insights into Office Real Estate Construction Costs
  • 4.9 Insights into Office Real Estate Investment
  • 4.10 Impact of the COVID-19 on the Market

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Office Leasing Volume is Witnessing Significant Growth
    • 5.1.2 Increasing Rental Prices of Office Spaces
  • 5.2 Market Restraints/Challenges
    • 5.2.1 Remote Work and Hybrid Models
    • 5.2.2 High vacancy rates can be a significant challenge in the office market
  • 5.3 Market Opportunities
    • 5.3.1 The demand for flexible office spaces, including co-working spaces and serviced offices, has been growing
    • 5.3.2 With the rise of remote work, suburban office spaces are becoming more attractive
  • 5.4 Industry Attractiveness - Porter's Five Forces Analysis
    • 5.4.1 Bargaining Power of Suppliers
    • 5.4.2 Bargaining Power of Buyers/Consumers
    • 5.4.3 Threat of New Entrants
    • 5.4.4 Threat of Substitute Products
    • 5.4.5 Intensity of Competitive Rivalry

6. MARKET SEGMENTATION

  • 6.1 By Geography
    • 6.1.1 North America
    • 6.1.1.1 United States
    • 6.1.1.2 Canada
    • 6.1.1.3 Mexico
    • 6.1.2 Europe
    • 6.1.2.1 United Kingdom
    • 6.1.2.2 France
    • 6.1.2.3 Germany
    • 6.1.2.4 Rest of Europe
    • 6.1.3 Asia-Pacific
    • 6.1.3.1 China
    • 6.1.3.2 India
    • 6.1.3.3 Japan
    • 6.1.3.4 South Korea
    • 6.1.3.5 Rest of Asia-Pacific
    • 6.1.4 Middle East & Africa
    • 6.1.4.1 United Arab Emirates
    • 6.1.4.2 Saudi Arabia
    • 6.1.4.3 South Africa
    • 6.1.4.4 Rest of Middle East & Africa
    • 6.1.5 Latin America
    • 6.1.5.1 Brazil
    • 6.1.5.2 Argentina
    • 6.1.5.3 Rest of Latin America
    • 6.1.6 Rest of the World

7. COMPETITIVE LANDSCAPE

  • 7.1 Overview (Market Concentration and Major Players)
  • 7.2 Company Profiles - Real estate Players
    • 7.2.1 Colliers International
    • 7.2.2 Cushman & Wakefield
    • 7.2.3 JLL
    • 7.2.4 CBRE*
  • 7.3 Company Profiles - Developers
    • 7.3.1 Hines
    • 7.3.2 Skanska
    • 7.3.3 China Evergrande Group
    • 7.3.4 Delhi Land & Finance
    • 7.3.5 Buckingham Properties*

8. FUTURE OF THE MARKET

9. INVESTMENT ANALYSIS

10. APPENDIX

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Office Real Estate Industry Segmentation

Office real estate is the construction of buildings for leasing and selling purposes to companies from different sectors. A complete background analysis of the Office Real Estate Market, including the assessment of the economy and contribution of sectors in the economy, a market overview, market size estimation for key segments, emerging trends in the market segments, market dynamics and geographical trends, and COVID-19 impact, is covered in the report.

The office real estate market is segmented by geography (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America, and the Rest of the World). 

The report offers the market sizes and forecasts for the office real estate market in value (USD) for all the above segments.

By Geography North America United States
Canada
Mexico
Europe United Kingdom
France
Germany
Rest of Europe
Asia-Pacific China
India
Japan
South Korea
Rest of Asia-Pacific
Middle East & Africa United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East & Africa
Latin America Brazil
Argentina
Rest of Latin America
Rest of the World
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Office Real Estate Market Research FAQs

How big is the Office Real Estate Market?

The Office Real Estate Market size is expected to reach USD 2.21 trillion in 2025 and grow at a CAGR of greater than 5.17% to reach USD 2.84 trillion by 2030.

What is the current Office Real Estate Market size?

In 2025, the Office Real Estate Market size is expected to reach USD 2.21 trillion.

Who are the key players in Office Real Estate Market?

Hines, Skanska, Colliers International, Delhi Land & Finance and JLL are the major companies operating in the Office Real Estate Market.

Which is the fastest growing region in Office Real Estate Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Office Real Estate Market?

In 2025, the Europe accounts for the largest market share in Office Real Estate Market.

What years does this Office Real Estate Market cover, and what was the market size in 2024?

In 2024, the Office Real Estate Market size was estimated at USD 2.10 trillion. The report covers the Office Real Estate Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Office Real Estate Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Office Real Estate Industry Report

Statistics for the 2025 Office Real Estate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Office Real Estate analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.