The Future Of Office Real Estate

By Author: Derick Jamea
Total Articles: 100
Comment this article

The impact of the coronavirus pandemic in the US real estate landscape is definitely not short-term. In fact, the rhythm may change forever. Companies are not yet very sure what exactly the future holds, but the whole shift to remote work setup has definitely brought valuable insights that businesses can leverage post-covid.

In a recent survey report from CBRE, in which over 126 huge companies responded, they were asked about their commercial real estate plans and 63% expressed that they’ll give employees more flexibility and choice over where they prefer to work every day. Only 25% said that they plan to offer their employees the choice to work remotely full-time.

After all, the myth that work from home arrangement isn’t productive and worthwhile has been debunked. Despite the initial skeptics, extensive remote work is way more viable than we realized. According to Levi Strauss CFO, there will be a culture change, and work from home or hybrid arrangement will become the new norm.

Even Google announced that they will give the hybrid model a try as most of their employees don’t want to travel to and ...
... from the office on a daily basis. Majority of the young working population is making the most of the trend and is slowly shifting to travel and ‘digital nomadic’ way of life. This could potentially be a huge and permanent shift especially for the new generation of workers.

Companies are also looking into the reduced costs the rising trend offers. Because of Covid, companies were compelled to make the big shift to remote work because of safety issues, but now, they are starting to make long-term decisions and thoroughly evaluate the reduced costs of the office space for rent as well as the necessary technology and tools to promote a strong hybrid workforce.

Read more: https://www.enrichedrealestate.com/blog/ere/?p=3277