Microsoft teases Office for Mac update coming, without subscription
Alongside the version included in the Office 365 subscription package, Microsoft says it will release another Office for Mac update in 2021, which will be a single purchase.

The main apps in Office 2016 for Mac
Ahead of its refreshed Outlook for Mac coming in October, Microsoft has announced that it will release a new edition of the full Office for Mac with what it calls a "perpetual licence" instead of subscription. Coming some time in the second half of next year, what may be called "Office 2021" is to be sold as a one-off purchase.
"Microsoft Office will also see a new perpetual release for both Windows and Mac, in the second half of 2021," said Microsoft in a blog post. No further details were provided, and the blog post was chiefly about updates to Exchange Server, which "are only available with the purchase of a subscription license."
Office for Mac was originally a single, one-off purchase from when it first came out in 1998. From 2013 onwards, however, Microsoft has been increasingly promoting its continuous subscription version, Office 365, for both Mac and Windows.
More recently referred to as Microsoft 365, the subscription comes in business, personal and family versions. The business version costs from $5 per month per user, and the personal edition is $6.99 per month.
Microsoft recently announced that it was officially ending support for Office 2016 for Mac on October 13, 2020.

The main apps in Office 2016 for Mac
Ahead of its refreshed Outlook for Mac coming in October, Microsoft has announced that it will release a new edition of the full Office for Mac with what it calls a "perpetual licence" instead of subscription. Coming some time in the second half of next year, what may be called "Office 2021" is to be sold as a one-off purchase.
"Microsoft Office will also see a new perpetual release for both Windows and Mac, in the second half of 2021," said Microsoft in a blog post. No further details were provided, and the blog post was chiefly about updates to Exchange Server, which "are only available with the purchase of a subscription license."
Office for Mac was originally a single, one-off purchase from when it first came out in 1998. From 2013 onwards, however, Microsoft has been increasingly promoting its continuous subscription version, Office 365, for both Mac and Windows.
More recently referred to as Microsoft 365, the subscription comes in business, personal and family versions. The business version costs from $5 per month per user, and the personal edition is $6.99 per month.
Microsoft recently announced that it was officially ending support for Office 2016 for Mac on October 13, 2020.

Comments
Seconded. The last time I paid for office was when they last had a perpetual license. I will definitely consider this.
So, $17/user per year, how many years until you've spent as much as a perpetual SINGLE USER license? 10 or 15 years?
But people say Office365 isn't a good deal. If you have multiple computers, family members, friends, etc., can share the cost, it definitely makes sense to spend $17/yr for the apps plus 1TB cloud storage.
Office365 is the deal of the century compared to Adobe's subscriptions and pricing.
What if you're a single user? That's where the problem begins. What if you only need excel for a month and a half? That's $99/year per user and I don't want to use Microsofts cloud service. I don't trust them.
Apple's programs are free. Much better deal.
There is plan for single users, $70 per year. And even you can subscribe with monthly plans, that would be cheap for the month and a half example you gave. IMO, not that bad either, considering it includes 1TB of OneDrive storage.
One of my biggest complaints with MS Office is that its incredible bloat-ware. It takes forever to load and is often cumbersome to use.
iOS Macs are arriving soon-ish. Wait until then to spend the big bucks outfitting your beast with the latest. In fact, let's starve Apple into building us new silicon sooner than later. Don't be buyin' Mac shit now.
First MAC is the best, not shit. Apple will support Intel for years so no issue there but if anyone choose to wait to replace/upgrade/buy Apple Silicon based MAC, than that is their choice.
Gruber posted this about Panic's new Nova app's pricing model, which is a hybrid -- initial upfront price for a year, then a lower-priced annual subscription, but if you don't want to pay you don't have to, and you keep the working version you have without updates. Sounds ideal.
https://daringfireball.net/linked/2020/09/24/nova
As for Office, I refuse to pay rent to use Office on iOS.
I will take issue with: 'Apple will support Intel for years so no issue there.' Ughhh, my Mac doesn't support Big Sur. What will I do with my Mac when Apple Silicon arrives? I'll flush down that shit. When it's released EVERYTHING published (magazine articles, how-to's, web postings, etc.) will be about Apple Silicon and you'll feel like a dinosaur running Intel) Again I say, WAIT before you buy more Mac stuff.