As COVID-19 measurements and national lockdown restrictions gradually come to an end, an increase in office space may be the sign that 2022 will be very different for businesses and employees.
Although over the course of the past 18 months many businesses were pushed to fundamentally alter how they operate, with many employees experiencing on-site, remote, and hybrid work, many companies are now offering incentives for those ready to switch WFH for a familiar or new office.
“Since the need for working from home is coming to an end, we have seen a huge increase in the demand for office spaces. During the past pandemic period, we have seen that flexibility is one of the most important requirements while looking for a new office space. With the recent developments, we see a market demand spike as employers are re-evaluating what their employees expect from their offices. Resulting in above-average market movement. On top of that, with the restrictions ending, employers are more willing to commit to new investments.” – says Marcel de Groot, CEO at Flexas, an online office space specialist serving the continental European market through their offices in Amsterdam and Paris. According to recent numbers released by the company, a 300% spike in new office space inquiries has been registered across Europe.
Despite the many benefits of working from home, people demonstrate a desire to return to the work culture they were used to. And now that more of us are getting used to leaving the house, after many lockdown and Covid-19 waves, a return to work from offices is also fulfilling the natural need for human interactions and socializing with friends and colleagues.
Long leases and contracts with little room for negotiation, though, probably will be left in the past as employers demand more flexibility and to be able to upsize or downsize their office spaces.
In the UK, members of staff are returning offices in the highest numbers since the start of the Covid-19 crisis, according to an analysis of workplace occupancy recently published by The Times, but office use remains far below pre-pandemic levels.
Earlier in February, occupancy reached levels last seen in November 2021, before the introduction of restrictions intended to tackle the outbreak of the Omicron variant, research by the property analysts Remit Consulting found.
Office occupancy of 23.3% between February 7 and 11 continued the trend for a gradual increase since the start of the year, but the number is well below pre-pandemic levels of closer to 60% occupancy.