Corona and Home Office turn the office market upside down

Due to the pandemic, the home office topic has gained enormous momentum. However, the path from the temporary solution with laptop at the kitchen table to the opportunities that flexible working can offer is further than it seems at first glance. Many as-pects must be considered.

There are various reasons for flexible working, such as lower space costs for offices or savings in the daily commute to work. Less traffic benefits the environment. And the compatibility of family and career can possibly be improved. Those who spend less time in the office are more likely to live outside, thus relieving the tight housing markets in the big cities.

First, however, the corona crisis will lead to a decline in office demand on the previously tight office markets. The low vacancy rates should rise noticeably, while the partly high office rents will probably decline. Over the long term, the demand for office space could decline overall because of demographic trends and flexible work models. However, office real estate is not an obsolescent model.

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