Work From Home Policy Fallout: Remote Work Trend Estimated to Slash USD 800 Billion Off Office Building Values Worldwide, Says Report

A McKinsey report suggests that the shift towards remote work could lead to a staggering USD 800 billion loss in the value of office buildings worldwide by 2030. Reportedly, this trend, exacerbated by pandemic-induced office vacancy rates and rent drops, could reshape major cities' real estate landscapes. McKinsey's study indicates that office attendance remains 30 per cent below pre-pandemic levels, with only 37 per cent of employees returning to the office daily. This report underscores the persistent impact of COVID-19 on commercial real estate, a sector already grappling with increasing interest rates. AI Eating Away Jobs: Artificial Intelligence Will Take More Jobs From Women Than Men by 2030 in US, Reveals Study.

Remote Work Could Cut Office Values by USD 800 Billion

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