The coronavirus hit to office space will surpass the financial crisis, with a net loss of up to 95 million square feet of unoccupied real estate from Q2 2020 to Q3 2021, according to a new forecast from Cushman & Wakefield.
The steepest level of vacancies will occur in the U.S., Canada and European countries in the coming years at a net negative level of over 200 million square feet.
The number of permanent remote workers, and hybrid workers, will increase over time, but population and economic growth, as well as concentration in knowledge-based work, should lead to a full recovery in the next decade.
The coronavirus remote work experiment will become a permanent trend, but at some point, employees will return to the office in numbers that match the past. When? It could take