Since the beginning of the covid 19 health crisis, the home office has been shown as one of the immediate solutions for companies to continue operating despite travel restrictions.
Some, over the months, decided to return to “normal”; but others, those who look beyond the short term, have understood that the way of working in many sectors has changed forever.
According to data from dataprot16 percent of companies are operating under some form of telecommuting worldwide.
One of the ways to notice the structural changes that are taking place in the world of work is from the new real estate trends in large cities.
In cities like New York and London, for example, the number of empty offices is increasing uncontrollably as a direct consequence of the advancement of teleworking.
A report of the universities of Columbia and New York says that, due to the decrease in demand derived from the massive home office, a drop of 28 percent in the value of offices in the world is calculated.
It is not a small thing, we are talking about 450 billion dollars less. Of that total, a tenth corresponds to New York.
Along the same lines, a study of savills He says that in Manhattan, the office area located on 3rd Avenue between 41st and 59th streets, has almost 30 percent vacancy. This is double what was recorded in 2018 and 10 points higher than the city average.
The situation is so serious that they are thinking of converting the offices into apartments for housing and, incidentally, mitigate the serious housing deficit that the city suffers.
Renting an apartment in Manhattan costs five thousand dollars a month.
Home Office in London
Across the ocean, in London, the same thing happens: it’s been more than a decade since there were so many empty offices in the UK capital.
Office vacancy grew by 50 percent with the pandemic, according to information from Cost.
As a consequence, the most obvious: the value of offices fell by a quarter, and they warn that it will be worse.
To prevent these investments from falling further, projects such as The Utilize Project They seek that these offices can be converted into places of common use. other organization, save the high streetaims to promote collaboration between property owners and professionals to occupy offices in a common way.
The government of the capital, for example, has a proposal to transform the vacant offices in one of the areas into 1,400 new homes by 2030. According to what they said from the city council, the idea is “to adapt to modern times.”
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