A report by McKinsey showed that administrative offices are at risk of depreciating by about $800 billion as demand falls due to remote work. According to McKinsey, more office value could be lost if interest rates continue to rise.
Based on a survey of 13,000 full-time employees working from the office, the management consulting firm built a model that measures real estate demand in nine major cities in America, Europe, and Asia: San Francisco, London, New York, Houston, Paris, Munich, Tokyo, Beijing, and Shanghai. The consulting giant has found that in most of these cities, demand in 2030 will still be lower than in 2019 before the pandemic.
Source (CNBC Arabic Website, Edited)
