Since the onset of COVID there has been no shortage of speculation on the future of the office market. So far, the consensus is that most office workers want the flexibility of a remote work environment with some time spent in the office. In this vein, a recent article predicts that office space requirements will shrink over the coming years and decades. On the surface this would imply high office vacancy. However, if you factor in the fact that new product coming on-stream will adjust, re-positioning of current office stock will take out excess supply, medium to long term distancing requirements, etc. it certainly places the consideration of vacancy into a different perspective. #recg #officemarket #officeleasing #commercialvaluations #businessenvironment #future #remotework #covid
- Demitry Omrin