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Demand for office space will increase in the long term – Credit Suisse

FILE PHOTO: The logo of the Swiss bank Credit Suisse is seen in Zurich
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its branch office in Zurich, Switzerland, November 3, 2021. REUTERS/Arnd WIegmann/File Photo

December 8, 2021

ZURICH (Reuters) – Demand for office space will increase in the long-term as the trend to digitize work offsets the impact of the pandemic caused by more people working from home, a study by the Swiss bank Credit Suisse shows.

Their analysis of the Swiss office real estate market shows that supply is outpacing demand during the coronavirus pandemic. The work-from-home trend “will likely cast a shadow over the office real estate market in the next few quarters,” it said.

But the outlook is more optimistic in the long run, it said, based on a study the Swiss government commissioned about what could happen by 2060.

According to the study, the average share of workers in Switzerland performing office activities increased from 34% to 45% between 2000 and 2019 and will reach 60% by 2060.

“Over time, this effect should offset the drop in demand due to working from home, leading to a substantial increase in demand for office space in the long term,” it said.

(Reporting by Michael Shields; Editing by Angus MacSwan)

https://www.oann.com/demand-for-office-space-set-to-rise-in-long-term-credit-suisse/?utm_source=rss&utm_medium=rss&utm_campaign=demand-for-office-space-set-to-rise-in-long-term-credit-suisse Demand for office space will increase in the long term – Credit Suisse

Bobby Allyn

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