Remote work alters global real estate — survey
NEW YORK, UNITED STATES — The global real estate landscape is shifting due to the rise of remote and hybrid work models, according to a recent survey from real estate brokerage firm NAI Global.
Office occupancy rates have varied across different regions post-pandemic, with the United States (U.S.) showing 40% to 60% occupancy in major cities. However, Europe, the Middle East, and Asia report higher rates, ranging from 70% to 110%.
The report suggests that regional factors like cultural norms, commute times, and living arrangements significantly impact these differences.
For instance, Frankfurt companies enhance office spaces to lure back employees, while hybrid work remains standard in Hungary. In Angola, unreliable internet connectivity drives employees back to offices, while social interaction preference fuels China’s office occupancy.
The study also revealed mixed sentiments about remote and hybrid work in the Asia Pacific region, mostly influenced by city size and commute times. Hybrid work persists in New Zealand and Australia, although the demand for quality office space is increasing in some markets.
The survey highlights the continued impact of the remote work revolution on global real estate markets, prompting property owners to invest in enhancing office spaces to foster collaboration.
