How is the commercial real estate market expected to evolve?

The commercial real estate market in 2024 is expected to navigate through challenges such as higher cost of capital and limited capital availability. Real estate firms might struggle to meet environmental, social, and governance (ESG) regulations due to inadequate data, processes, and controls. Strategies like outsourcing to achieve technological capabilities and modernizing legacy systems for operational efficiency are anticipated. The market also faces pressure from economic uncertainties, requiring firms to realign with new foundational realities and explore efficient, sustainable business practices【37†source】.