Working from home could wipe $800 billion from office values globally | CNN Business
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Remote work risks wiping $800 billion from the value of office buildings in major cities worldwide by 2030 as the post-pandemic trend pushes up office vacancy rates and drives down rents, according to a new report.

McKinsey said cities could adapt to the declining demand for office space by “taking a hybrid approach themselves,” developing multi-use office and retail space and constructing buildings that can be easily adapted to serve different purposes.

  • GissaMittJobb@lemmy.ml
    3·
    1 year ago

    A more serious problem than getting per-unit plumbing into buildings is the fact that commercial real estate is designed fundamentally differently than residential - as in the fact that there’s a large amount of interior space which would be entirely without windows. This is often illegal, but even if permitted it’s quite undesirable. Just look at what happened to Munger Hall - it was considered cruel enough that they cancelled the plans for it.

    99% Invisible did a great episode on this subject which I highly recommend that you listen to: https://99percentinvisible.org/episode/office-space/