Worst Case Scenario: Hybrid Work Trends May Result in Office Space Demand Falling 38 Percent by 2030, Says McKinsey

Worst Case Scenario: Hybrid Work Trends May Result in Office Space Demand Falling 38 Percent by 2030, Says McKinsey
Three years after the COVID-19 pandemic started, employers are struggling to bring staff back to the office after many Americans were mandated to work from home. Andrew Caballero-Reynolds/AFP via Getty Images
Bryan Jung
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey.

McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era,

The survey, published on July 13, reviewed nine major metropolises, Beijing, Houston, London, New York City, Paris, Munich, San Francisco, Shanghai, and Tokyo.

The so-called “superstar” cities are regions with a disproportionate share of the world’s urban gross domestic product (GDP) and national GDP growth.
Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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