Office tenants reconsider space requirements due to home office
Published: Thursday, Nov 9th 2023, 07:50
العودة إلى البث المباشر
Flexible working models have become an integral part of everyday working life for many office workers. For a long time, there was little evidence of this. But now there are increasing signs that tenants are not only rethinking their space requirements, but also adapting them.
More than three and a half years after the outbreak of the coronavirus pandemic, when working from home was ordered, working from home is still part of everyday life for countless employees. And this has consequences, as the economists at Raiffeisen Switzerland write in the study "Real Estate Switzerland - 4Q 2023" published on Thursday.
Office occupancy is lower due to working from home - and this offers obvious savings potential. As the economy continues to deteriorate, the pressure on companies to avoid unnecessary costs and use such unused office space for other purposes is increasing, the economists write.
Particularly in the open-plan offices of traditional tenants such as insurers and banks, the potential for reducing rental costs is obvious today. "The much-heard argument that office space costs only account for a mid-single-digit percentage of a company's total costs, and that the savings potential is therefore low, is then at the latest on a shaky footing," the study states.
In addition to the phase of sounding out the necessary space requirements, long contract and notice periods are also responsible for the sluggish reaction of the office space market to the structural change accelerated by the coronavirus pandemic. As almost three quarters of all fixed-term office leases will expire in the next five years, it will soon become clear how big the home office effect really is, says Hasenmaile.
©كيستون/إسدا
Arabic 
English 
German 
French 
Spanish