Companies want to get rid of offices
20:58
Corporations in major European cities are starting to look for ways to reduce expenses related to rented office space as a result of the Covid-19 pandemic.
Society of Industrial and Office Realtors, an American industry organization uniting commercial and industrial real estate brokers, reports a sharp increase in the number of companies' inquiries about the possibility of reducing expenditure on rented space, mainly by subletting part of their offices.
This tendency is observed among others in cities such as Dublin, Frankfurt, London, Paris and Warsaw.
Experts believe that in the next 6-12 months more and more office space will return to the market due to the necessary savings, decreasing productivity, as well as more flexible working conditions, i.e. increasing the possibility of working from home.
According to analysts, almost all companies will need less office space in the near future.
This can mean not only attempts to find tenants for part of their space, but also an attempt to renegotiate contracts faster or the emergence of new, more flexible solutions.
