Analysts to office staff agree that the future of work has been sharply realigned, due to the effects of the pandemic.
Yet, notwithstanding the sweeping changes that have indelibly altered not only where and how we work, but also the face of our workplaces, the “work from anywhere” mentality is countered by cautious workplace change.
A recent study conducted by global workplace strategist Unispace, which focused on a cross-section of clients, from BUPA to FujiFilm, highlights a series of key future trends for commercial real estate. These include:
Real estate portfolios are changing as a result of the pandemic – Around 47 per cent of clients who surveyed planned to make changes to their portfolio; with 27 per cent of respondents looking to decrease their real estate footprint. Even though 30 per cent don’t plan to change their portfolio, this group has been looking to optimise existing space to suit more flexible ways of working.
Increased drive for portfolio efficiency – Unispace’s client base alone is aiming to achieve more than $390 million in savings across their global portfolios through space reduction and/or cost avoidance.
Leading by example, Unispace took a 70/30 approach to office space – 70 per cent for problem-solving, innovation and socialising; and 30 per cent for individual workstations. In doing so, this reverses its previous approach and saves the company $US100 million per year.
Flight to quality – It’s a tenant’s market with opportunities to take advantage of high vacancy and historic sublease supply in major cities. This points to a correlation in reducing office space requirements. Higher quality zones that build upon the business case for action are the preference.
Decentralisation and the rise of the suburbs – Outlying regions and business centres are taking the lead in the corporate realm. A move away from the city to more convenient and cost-effective hubs and home portfolio models is the norm. This, along with the creation of urban communities through the growth of suburban coworking spaces, and even live workspaces as part of residential developments, will increasingly challenge our central business districts.
Purpose of the workplace – Of those surveyed, 49 per cent predict that home working will remain, but face-to-face collaboration is still important. Around 44 per cent expect people to come into the office for specific face-to-face activities.
The office is still key to employee engagement – A sizeable proportion, 63 per cent of employees, feel that going into work contributes to a sense of community. Furthermore, 58 per cent say that being in the office gives them a greater connection to the organisation.
It seems that there will always be a place for office space, but the world is forever adapting to new demands and technological advances in the corporate sector.
Related reading: Is commercial property a good investment when compared to residential
Thanks for reading.Wishing you a successful day.
Home values in our market have gone up 14.6% over the last 12 months. See what the rise has done to your home value today!
Want to know what’s happening in the market in real time? Ask Matt to explain the real time data available in the monthly publication of the Ray White NOW book.
We can also provide you with our publication Competition Creators, which outlines the auction process and the results of weekly auctions. Chat, txt or DM Matt today 0274 951 536 for copies of either publication.
- If you have a question on the local Real Estate market
- Should you spend money on a Reno of your home before you sell
- How to contact a Mortgage Broker
Just call Matt Wineera on 0274 951 536 who is always on hand to answer your query. His advice is given freely and without obligation.
Work with Matt Wineera who lists and sells homes in the Tauranga, Mount Maunganui and Papamoa areas.
Check out what clients have to say about Matt
Matt continually achieves great results for Home Owners through his negotiation skills and vast real estate experience, knowledge and expertise.
Matt is very passionate about real estate and loves being at the coal face.
You can also check out, follow & like Matt’s Instagram posts and Facebook page
Give Matt a call now 0274 951 536
.
