The commercial real estate market will get better for investors who are ‘willing to take the long view,’ PwC says

PwC is “optimistic as we see significant opportunities for patient and creative market participants across the investment landscape who are willing to take the long view." (Credit: Getty Images/Oscar Wong)

Commercial real estate has cratered after the pandemic despite a shift to hybrid work that has brought some people back to the office.

Financial services giant PwC, however, said in a report on Wednesday it's “optimistic” about where commercial real estate is headed in 2024 and believes “the worst of inflation is behind us,” which will lead the Federal Reserve to pause or reverse its interest rate hikes. The Fed on Wednesday largely confirmed that plan by extending its four-month pause on interest rate hikes and signaling three quarter-point cuts to its benchmark interest rate next year.