Global Office Vacancies Ease Slowly | Liana Michina LianaMichina.com

Global office vacancy slipped below ~14% and is forecast to move toward ~13% over the next few years, driven mainly by less new supply.
Office inventory ↓7M over the past year as low deliveries and demolitions reduced supply, while the development pipeline held near 50M for >1 yr.
Remote and hybrid work patterns stayed broadly steady, so vacancy improvement did not come from a major return-to-office surge across Global workplaces.
The market adjusted as older, weaker office buildings left inventory, while existing demand gravitated toward newer, amenity-rich space that better matched current tenant needs.
For the next few quarters, limited new construction and continued removals are expected to keep rebalancing the office market, though the outlook could still shift.