Working from home could wipe $800 billion from office values globally | CNN Business
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Remote work risks wiping $800 billion from the value of office buildings in major cities worldwide by 2030 as the post-pandemic trend pushes up office vacancy rates and drives down rents, according to a new report.

McKinsey said cities could adapt to the declining demand for office space by “taking a hybrid approach themselves,” developing multi-use office and retail space and constructing buildings that can be easily adapted to serve different purposes.

  • @Jimmyeatsausage
    4•1 year ago

    I imagine these would end up more like condos that tenements. Maybe 3-5 large units per floor. I dont think the plumbing retrofit would be a huge deal…nor the parking since an office that large would likely have had parking already. Mixes use zoning could lead to some pretty cool buildings potentially. Imagine living in a condo that had a grocery store and maybe some bars or restaurants on the lower floors.

    • @NotMyOldRedditName
      4•1 year ago

      Imagine living in a condo that had a grocery store and maybe some bars or restaurants on the lower floors.

      That’d be pretty cool.

      Live on the 10th. Coffee shop on the 5th and groceries on the 12th. A bar on the 15th and a 24h gym (open to anyone gym) on the 3rd.

      I wonder how many floors you’d need to convert to residential to support the remaining commercial.