Commercial Real Estate: Selling Your Business And Property
The towering commercial real estate market is worth over $20 trillion, but rising interest rates and the devaluation of office spaces may lead to serious consequences for this market. Over $450 billion of loans will come due in each of the next 4 years, forcing the market to realize that cheap money is gone. Office demand has also plummeted since the rise of remote work during the pandemic. Employees spend as much as 35% less time in the office today than before the pandemic. Office vacancies have gone up significantly and overall prices on offices have dropped by 17.5%.
While office space may be down, institutional investors know that commercial real estate as a whole is still very strong. Savvy investors are taking advantage of these shifts in the market and taking hold of the opportunities that have recently come to light. Some professionals in the commercial real estate market sell businesses alongside their properties for a number of added benefits, making it worth considering when you buy real estate in Townsville. Selling a business together with a property can help avoid paying twice on certain fees and help add flexibility to a deal while at the same time reducing complexity and excess waiting time.