Rethinking the office roadmap
While most offices remain empty under social distancing, the long-term question is whether the work-from-home shift will continue. Our regional real estate experts provide an outlook for office occupancy once the pandemic subsides.
23 Jun 2020
9 min watch
Fergus Hicks
Real Estate Strategist, REPM Research & Strategy Team
On entering the crisis most office markets were in good health, with low vacancy rates, contained development pipelines and rising rents.
In the near term the focus will be on ensuring that social distancing can be observed when workers return and on adjusting operating procedures, such as enhanced cleaning regimes and changes to lift usage.
In the medium term attention will shift to if and by how much occupiers will reduce their office footprints following the success of mass home working through the crisis.
One thing is clear: the landscape has changed.
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