Global co-working occupancy reached 70% in 2023, suggesting steady day-to-day space utilization across shared work hubs. At the same time, commercial real estate transactions fell to $4.1 trillion in 2023, a 41% year-over-year drop tied to higher financing costs. The report links occupancy, rents, debt maturities, and sustainability metrics to show how demand and capital availability move together.
Key Takeaways
- $4.1 trillion global transaction value for commercial real estate was recorded in 2023 (down 41% year over year), reflecting the post-rate-increase slowdown
- $8.5 trillion global residential real estate investment volume was estimated in 2023 (institutional and private combined) by JLL’s global research framing for real estate capital flows
- €340 billion was the European commercial real estate investment volume in 2023, down sharply from 2022 levels per CBRE’s EMEA investment reporting
- Industrial asking rents in the US were up 6.0% year over year in Q4 2023 per Cushman & Wakefield industrial market reports (rent growth proxy)
- Global co-working market occupancy reached 70% in 2023 per Deskmag and CoworkingCafe datasets aggregated in industry reporting (utilization metric)
- Co-living properties grew to 1,500+ operating buildings worldwide by 2024 per Knight Frank’s global living report (inventory scale)
- €5.2% average prime retail yield in Germany was reported in 2024 by Savills’ European yield survey commentary (pricing/yield benchmark)
- 5.0% average net effective rent growth for industrial assets in 2023 was reported in CBRE’s North America industrial report (rental index movement)
- 6.0% increase in global mortgage interest rates (average) from 2022 to 2023 was reported by OECD/IMF housing finance monitoring summaries (rate pass-through)
- 85% of GRESB Real Estate Assessments received some form of ESG disclosure scoring in their 2023 reporting cycle (adoption in benchmark)
- 1.5°C temperature alignment disclosures were assessed across real estate investors in a 2023 CDP climate questionnaire dataset used for reporting
- $2.3B in capital was raised via green REIT/real-estate sustainability-linked bonds globally in 2023 (financing for transition)
- $1.0 trillion US commercial real estate debt maturity wall for 2023-2025 was estimated by a Fed/industry dataset framing (refinancing risk scale)
- $400B of US commercial real estate debt was scheduled to mature in 2024 per Federal Reserve analysis (maturity risk)
- $18.2B global securitized real estate issuance (ABS/CMBS) occurred in 2023 per S&P Global/Deutsche Bank securitized products statistics summarized in trade reporting
In 2023, CRE deal values plunged while rents and fundraising held up, as sustainability and energy risk rose.
Related reading
01 · Category
Sustainability & Risk9 stats
01
85% of GRESB Real Estate Assessments received some form of ESG disclosure scoring in their 2023 reporting cycle (adoption in benchmark)
02
1.5°C temperature alignment disclosures were assessed across real estate investors in a 2023 CDP climate questionnaire dataset used for reporting
03
$2.3B in capital was raised via green REIT/real-estate sustainability-linked bonds globally in 2023 (financing for transition)
04
3.4% of US real estate assets were estimated as energy-inefficient and high-risk under EU-like transition risk frameworks in 2023 analyses by MSCI Real Assets risk papers
05
2.1 million buildings were certified under LEED globally as of 2024 (total cumulative LEED certifications indicator)
06
40% of new commercial construction in the US used ENERGY STAR portfolio manager benchmarking as reported by ENERGY STAR adoption tracking
07
62% of respondents reported meeting or exceeding sustainability-related targets for their real estate portfolios in 2023 (survey year), indicating broad adoption of sustainability KPIs.
08
12% of global corporate commercial building floor area is estimated to be in buildings with energy performance in the bottom tier (worst efficiency) as of 2023, signaling transition risk exposure.
09
3.6% of global energy-related CO2 emissions originate from buildings operations in 2022 (share), highlighting buildings as a primary decarbonization lever.
Interpretation
Sustainability & Risk Interpretation
In Sustainability and Risk terms, the data shows that ESG transparency and transition-readiness are becoming mainstream, with 85% of GRESB real estate assessments including ESG disclosure scoring and only 3.4% of US real estate assets flagged as energy-inefficient high risk under EU-like transition frameworks in 2023.
02 · Category
Capital & Financing9 stats
01
$1.0 trillion US commercial real estate debt maturity wall for 2023-2025 was estimated by a Fed/industry dataset framing (refinancing risk scale)
02
$400B of US commercial real estate debt was scheduled to mature in 2024 per Federal Reserve analysis (maturity risk)
03
$18.2B global securitized real estate issuance (ABS/CMBS) occurred in 2023 per S&P Global/Deutsche Bank securitized products statistics summarized in trade reporting
04
US bank CRE loan balances were $2.4 trillion in 2023 per Federal Reserve H.8 data series (credit supply scale)
05
$20.0B of REIT equity issued in 2023 occurred in the US per Nareit annual report on REIT capital markets (equity issuance metric)
06
Real estate equity REIT market cap reached $2.0 trillion in the US as of 2024 per Nareit market capitalization tracking (public market scale)
07
Global real estate private equity fundraising reached $76B in 2023 per Preqin real estate fundraising insights (capital formation metric)
08
$35B global real estate venture capital was invested in 2023 per PitchBook real estate tech VC reporting summaries (proptech funding)
09
In 2023, 24% of surveyed lenders tightened underwriting standards for CRE loans per the Federal Reserve’s Senior Loan Officer Opinion Survey (underwriting behavior)
Interpretation
Capital & Financing Interpretation
With about $400 billion of US commercial real estate debt due in 2024 and US bank CRE loan balances at $2.4 trillion in 2023, the category “Capital and Financing” faces a clear refinancing pressure point even as 2023 brought $20.0 billion of US REIT equity issuance and a $2.0 trillion REIT market cap by 2024 that can help absorb some funding needs.
03 · Category
Occupancy & Demand6 stats
01
Industrial asking rents in the US were up 6.0% year over year in Q4 2023 per Cushman & Wakefield industrial market reports (rent growth proxy)
02
Global co-working market occupancy reached 70% in 2023 per Deskmag and CoworkingCafe datasets aggregated in industry reporting (utilization metric)
03
Co-living properties grew to 1,500+ operating buildings worldwide by 2024 per Knight Frank’s global living report (inventory scale)
04
Industrial logistics take-up in France increased 6% in 2023 per JLL France industrial market analysis (absorption metric)
05
Net absorption for US industrial space was +133 million sq ft in 2023 per CBRE/Colliers industrial market summaries (demand absorption metric)
06
Global residential mortgage arrears remained under 3% of loans in 2023 in OECD housing finance monitoring (payment risk level)
Interpretation
Occupancy & Demand Interpretation
Across the Occupancy & Demand landscape, industrial and workspace demand looks resilient as US industrial asking rents rose 6.0% year over year in Q4 2023 and France industrial logistics take-up climbed 6% in 2023 while global co-working occupancy reached 70% in 2023.
More related reading
04 · Category
Global Policy & Supply Chain6 stats
01
3.5% of global GDP is estimated to be at risk from climate-related impacts on buildings per OECD climate risk assessments (economic exposure)
02
£35 billion annual investment requirement for UK building decarbonization by 2030 was estimated by UK Committee on Climate Change (CCC) (capex needs)
03
$4.6 trillion in global climate finance needed for buildings through 2030 was estimated by IEA/GlobalABC/UNEP synthesis (investment gap scale)
04
New York City Local Law 97 requires energy benchmarking for buildings starting in 2024 (policy compliance trigger)
05
0.9% global urban population growth rate in 2023 per UN DESA World Urbanization Prospects indicates rising building demand pressures (demand driver)
06
The global construction materials market for buildings was valued at about $1.4 trillion in 2023 per McKinsey/industry reports on building materials (supply chain exposure)
Interpretation
Global Policy & Supply Chain Interpretation
Across Global Policy and Supply Chain, the scale of the gap is stark: buildings face climate-related exposure equal to 3.5% of global GDP and the world needs about $4.6 trillion in climate finance through 2030, while new policies like New York City’s Local Law 97 on energy benchmarking starting in 2024 and rapid urban population growth are tightening demand and compliance expectations on the construction materials supply chain.
05 · Category
Market Size4 stats
01
$4.1 trillion global transaction value for commercial real estate was recorded in 2023 (down 41% year over year), reflecting the post-rate-increase slowdown
02
$8.5 trillion global residential real estate investment volume was estimated in 2023 (institutional and private combined) by JLL’s global research framing for real estate capital flows
03
€340 billion was the European commercial real estate investment volume in 2023, down sharply from 2022 levels per CBRE’s EMEA investment reporting
04
$15.0 trillion total real estate (housing plus other real estate) value was estimated in the US in 2023 using BEA fixed-asset and property value frameworks (real estate wealth scale)
Interpretation
Market Size Interpretation
For the Market Size angle, the data shows a sharp scale shift in 2023 with commercial real estate transaction value falling to $4.1 trillion globally, while broader US real estate value remains much larger at $15.0 trillion, underscoring how market breadth stays high even as deal activity shrinks.
06 · Category
Industry Overview9 stats
01
€5.2% average prime retail yield in Germany was reported in 2024 by Savills’ European yield survey commentary (pricing/yield benchmark)
02
5.0% average net effective rent growth for industrial assets in 2023 was reported in CBRE’s North America industrial report (rental index movement)
03
6.0% increase in global mortgage interest rates (average) from 2022 to 2023 was reported by OECD/IMF housing finance monitoring summaries (rate pass-through)
04
2.6% year-over-year increase in US single-family rent in April 2024 was reported by the Federal Housing Finance Agency (FHFA) housing rent index, a demand-strength proxy.
05
4.1% annual growth in global office asking rents (year-over-year) was reported in 2024 Q2 by a global office market index, reflecting modest rental resilience.
06
1.2 million sq. ft. of US office space net absorption occurred in 2024 Q1, indicating improved space uptake versus trough levels.
07
39% of total global commercial real estate investment activity occurred in Europe in 2023 (by value), indicating Europe remained the largest single regional destination for CRE capital.
08
2.8x the value of US commercial real estate debt maturing in 2024 versus 2022 was scheduled to mature in 2024 (US dollar terms), increasing near-term refinancing pressure.
09
US housing starts totaled 1.34 million units in 2023, indicating the construction cycle’s size for residential real estate market development.
Interpretation
Industry Overview Interpretation
Across the global real estate industry, returns and demand are showing uneven but real momentum, with prime retail yields in Germany averaging 5.2% in 2024 while industrial rents rose 5.0% in 2023 and US office net absorption rebounded to 1.2 million sq ft in 2024 Q1.
report visual · Comparison
Sustainability disclosure adoption and transition risk exposure
Most real estate assessments include ESG disclosure scoring, while only a small share of assets is classified as energy-inefficient and high-risk under transition risk frameworks.
85% of GRESB Real Estate Assessments received some form of ESG disclosure scoring in their 2023 reporting cycle (adoptio85%
62% of respondents reported meeting or exceeding sustainability-related targets for their real estate portfolios in 2023
62%
12% of global corporate commercial building floor area is estimated to be in buildings with energy performance in the bo
12%
3.4% of US real estate assets were estimated as energy-inefficient and high-risk under EU-like transition risk framework
3.4%
source-verifiedgresb.com · msci.com · uli.org · iea.org2023
Reference
Cite This Report
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APA
Sophie Moreland. (2026, February 13). Global Real Estate Statistics. Gitnux. https://gitnux.org/global-real-estate-statistics
MLA
Sophie Moreland. "Global Real Estate Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/global-real-estate-statistics.
Chicago
Sophie Moreland. 2026. "Global Real Estate Statistics." Gitnux. https://gitnux.org/global-real-estate-statistics.
Sources & references
43 datasets cited across this report · attribution is report-level
+13 additional datasets cited (not shown individually)