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The Impact of Working from Home on the German Office Real Estate Market

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Listed:
  • Simon Krause
  • Andreas Trumpp
  • Tobias Dichtl
  • Susanne Kiese
  • Alexander Rutsch

Abstract

A quarter of the workforce regularly works from home, oftentimes blending office and remote work The office market is undergoing a stress test, with challenging conditions expected to persist The permanent shift toward working from home (WFH) is expected to decrease long-term office space demand by around 12 percent In industries with high WFH rates, new office leases show a flight to quality with higher rents An office building’s ability to meet the growing “new work” demands is now a key leasing factor

Suggested Citation

  • Simon Krause & Andreas Trumpp & Tobias Dichtl & Susanne Kiese & Alexander Rutsch, 2024. "The Impact of Working from Home on the German Office Real Estate Market," EconPol Forum, CESifo, vol. 25(05), pages 52-58, September.
    • Handle: RePEc:ces:epofor:v:25:y:2024:i:05:p:52-58
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    References listed on IDEAS

    as
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    2. Alexandre Mas & Amanda Pallais, 2017. "Valuing Alternative Work Arrangements," American Economic Review, American Economic Association, vol. 107(12), pages 3722-3759, December.
    3. Alipour, Jean-Victor & Falck, Oliver & Schüller, Simone, 2023. "Germany’s capacity to work from home," European Economic Review, Elsevier, vol. 151(C).
    4. Jean-Victor Alipour & Oliver Falck & Simon Krause & Carla Krolage & Sebastian Wichert, 2022. "Working from Home and Consumption in Cities," CESifo Working Paper Series 10000, CESifo.
    5. Markus Nagler & Johannes Rincke & Erwin Winkler, 2024. "Working from home, commuting, and gender," Journal of Population Economics, Springer;European Society for Population Economics, vol. 37(3), pages 1-23, September.
    6. Markus Nagler & Johannes Rincke & Erwin Winkler, 2022. "How Much Do Workers Actually Value Working from Home?," CESifo Working Paper Series 10073, CESifo.
    7. Nicholas Bloom & Ruobing Han & James Liang, 2024. "Hybrid working from home improves retention without damaging performance," Nature, Nature, vol. 630(8018), pages 920-925, June.
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