The Blubber

Per Bloomberg

A report by Savills explores the effect of the change to remote work settings and has found three major US cities that are said to reach empty office space by 2033. The report also pointed out that US cities were specifically vulnerable to empty office space.

It was noted that US cities could see the most empty office spaces while certain Asian cities were expected to see the least vacancies. The busiest cities that expect to be most occupied, according to the research, were Shenzhen, Ho Chi Minh City, and Mumbai.

Kelcie Sellers, an associate of Savills World Research, gave a statement regarding how there were lower return-to-work levels after the pandemic. This came as the pandemic forced people to work from home and after that, there were lower numbers of workers returning to the office.

Sellers: “This isn’t just about offices just becoming empty due to some cities seeing lower return to work levels post pandemic... It’s about how long term economic, demographic and development trends interact with working patterns.”

In April, remote-friendly roles saw an all-time high in some major US cities. This included Atlanta, Chicago, and New York. This came after remote work became compulsory for most positions during the pandemic.

Around that time, it was also reported that the majority of American corporate offices remained half-empty.

See flow at unusualwhales.com/flow.

Other News:

• Remote-friendly roles see an all-time high in some major US cities
• The majority American corporate offices are currently half-empty

Resources:

Bloomberg