Homeoffice und die Zukunft der Büros: Flexibilisierung, Reduzierung und Umnutzungspotenzial

The document, published by ifo Schnelldienst, features research by Simon Krause, Andreas Trumpp, Tobias Dichtl, Susanne Kiese, and Alexander Rutsch. It explores the impact of new working models on the office market, particularly focusing on the rise of home office and hybrid work arrangements. This shift has prompted companies to reassess their office concepts, with significant implications for real estate and urban planning.

The establishment of new work forms has led to noticeable effects on the office market. As home office and hybrid models become more prevalent, companies are reducing their office spaces or considering relocations. Some firms are downsizing due to lower occupancy, while others are upgrading their office quality or even exploring new locations. A primary focus of this research is on the repurposing of unused office properties into much-needed residential spaces.

The study predicts that long-term demand for office space may decrease by approximately 12% as firms adapt their spaces. While overall space demand is declining, industries experiencing significant growth in home office arrangements are seeing increased rental prices and a greater need for modern, high-quality spaces aligned with "New Work" concepts.

The second focus of the study examines the conversion potential of redundant office spaces, particularly into housing. With the ongoing challenges in the office sector and a high demand for residential properties, these conversions could provide opportunities for investors and city planners. The technical and regulatory potential for such transformations is estimated at around 30%. In the seven largest cities in Germany, a mid-term repurposing potential of 5.8 million square meters of office space exists, potentially creating around 60,000 apartments for approximately 102,000 people.

The regular practice of home office has established itself beyond the pandemic, becoming the norm for over a quarter of employees and two-thirds of companies. Despite media focus on companies urging employees to return to the office, 74% of businesses that allow home office intend to maintain their current arrangements. Only 12% plan to implement stricter office return policies, indicating a significant shift in workplace culture.

The study highlights that companies are already reducing their office spaces, with 6.2% having made cuts and 8.3% planning to do so in the next five years. Large service companies, which utilize most office space, are particularly active in this regard, investing in modern locations and improving their office infrastructure.

The decline in demand for office space due to hybrid working models presents new challenges for the office real estate market. While home office does not signal the end of the office, it is reshaping the landscape. The research indicates that companies are adapting by reducing space, implementing desk sharing, and enhancing meeting and social areas to foster collaboration.

The need for creative and economically viable repurposing concepts for obsolete office spaces is crucial. The future of office real estate lies in its flexibility and adaptability to changing societal and economic needs. Through strategic planning, the conversion of empty office properties can contribute to meeting urban demands and promoting sustainable city development.