Q2 2024 Global Occupancy Benchmarks Report
Strategic Insights for Cost Savings and Optimal Portfolio Rightsizing
As the industry leader in real-time occupancy analytics, Basking is committed to providing the most up-to-date global occupancy benchmarks and insights throughout the year to guide effective CRE strategies for organizations worldwide.
Several notable trends emerged in Q2, highlighting the importance of data-driven strategies to balance the competing demands of portfolio management in a new workplace era.
KEY FINDINGS
Q2 2024 RTO Mandates Impact
APAC achieved a peak occupancy rate of 60%, while LATAM reached 50%. In contrast, Europe and North America saw flat occupancy rates between 30%-40%.
High Adherence in APAC and LATAM
RTO mandates had higher adherence in APAC and LATAM, highlighting opportunities for portfolio rightsizing and cost savings in North American and European countries where work-from-home is more prevalent.
Shift in Visit Patterns
There has been a slight increase in short to medium-duration visits globally, suggesting a rise in "coffee badging" and task-specific visits.
Potential for Cost Savings
North American and European offices, often more expensive and requiring additional amenities, offer greater opportunities for rightsizing. This presents a chance to reduce operational costs by optimizing office space and re-evaluating real estate investments
Get the full report now to understand trends globally and by region, and explore strategic opportunities for empowering CRE success. Take a deeper look at these numbers and how they can inform a CAPEX savings-focused strategy in our upcoming webinar with Andrew Bruder, Director of Facilities at Worldwide Express.
