[LISTEN] What does working remotely mean for real estate?
With remote work being implemented by some companies over the COVID-19 pandemic, will office buildings be abandoned altogether?
FNB property economist John Loos suspects there are many chief financial officers questioning whether their companies need as much office space going forward but this does not mean buildings will be "abolished".
I have seen surveys coming out of the US where CFOs haven't said that they are going to abolish office space altogether but that maybe 20 percent or 30 percent of their workforce could work remotely and that they could cut the amount of office space to cut costs which will be crucial now because this is a very deep recession.John Loos, Property Economist - FNB
If you can cut down on a portion of your office space, I think for many it will be attractive.John Loos, Property Economist - FNB
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