In the past few years, I have seen several companies adopt the work from the home policy as the system undoubtedly turned out to be economic and convenient for both ends. This setup, however, is no longer an option in the post-Covid months where everyone is compelled to function from the precincts of their homes.
But how much is that going to impact the office space?
It has been tried and tested now that working from home does not ruin the productivity of employees. In fact, most sectors have been able to bring out the best in their employees working from home. With productivity increased, and cost minimized, the work from home culture is definitely here to stay. Many companies would shut down branch offices, rethink their expansion plans and manage with co-working spaces. The rentals are therefore expected to fall sharply in the coming months.
On the other hand, in the case of the offices which do continue to function from the office space, there would be a need for more space. When the workforce joins back, they would have to do so maintaining the social distancing regulations and that would call for larger workspaces.
It is for time to tell how the role of office space will change when the pandemic leaves things back to normal.