Remote work could spark an $800 billion crash in office prices around the world
Office buildings around the world could suffer an $800 billion wipeout as work from home trends persist, according to a new report from theThe consulting firm pointed to the lasting impact the pandemic has had on office attendance, with 30% fewer workers commuting to the office compared to levels prior to the pandemic.
Those effects will stick around for decades, researchers said, estimating that office demand will be as much 20% lower in 2030 compared to 2019 in some cities in moderate scenario. In a more severe scenario, demand could be 38% lower by 2030., who are expected to struggle as companies abandon their unused office spaces. In a moderate scenario, office prices could plunge 26% through 2030, compared to levels in 2019.
The pressure on office buildings adds to the turmoil brewing in the commercial real estate market, with experts
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