Taking the pulse: How remote work, COVID-19 variants and inflation are affecting office demand
During the past couple of years, the office industry has seen many successes, despite the pandemic, related lockdowns and new COVID-19 variants that have been roadblocks to a return to normalcy. At the time of this writing, we are midway through first quarter 2022, and many office owners and tenants have been implementing policies to safeguard workers and visitors, while implementing amenities aimed at increasing office occupancy numbers.
So, how is the overall office market doing in comparison with previous quarters? At KBS, we are noticing a few factors that signal the sector’s strong recovery, as well as what institutional investors should keep in mind as the year progresses.
The true impact of remote and hybrid work models
Although we have seen both remote and hybrid work models rise in popularity during the past two years, the reality is most businesses — especially tech and life sciences companies — and their employees will continue