There have been three key impacts on office real estate since COVID-19. They include significant slowdowns in decision-making, few people returning to offices despite restrictions lifting, and an increase in office space lease listings. For example, despite the 50% capacity that New York office buildings could reopen at and the expected 15-20% return, there was only 9% that actually returned to work. Will shifts in the demand for office space be temporary or are new trends here to stay? While we do not aim to provide property investment advice through this article, we share our thoughts on shifts in the market as we see them, and how we estimate they will have an impact on real estate businesses.
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