McKinsey and Company’s new research team revealed that there is a growing trend among workers to work remotely. The need for office space is shrinking. As a result, the office space market in major cities is at risk of losing nearly $800 billion by 2030.
According to another report by a global consultancy, remote work has increased with work from home during the Covid-19 pandemic. But office attendance, although somewhat stable in the post-Covid-19 era, remains 30 percent below pre-pandemic levels. Losses under current conditions are more than a quarter of pre-pandemic levels in 2019. The study predicts that the demand index for office space will be about 13 percent lower by 2030 than in 2019. Demand for office space in most cities will not return to pre-pandemic levels for decades.
Comment here