2024-03-01 07:31:22
The number of vacant offices increased once more in 2023 for the first time in years. This is mainly because people continue to work from home more often, according to the latest report from real estate advisor Colliers.
The number of offices in which space was offered increased to almost 2,100 in the last quarter of 2023. That is 5 percent more than the previous quarter. Expressed in surface area, this amounts to almost four million square meters that were offered.
Long-term vacancy has also been rising once more for a long time. Since the corona pandemic, employees are no longer in the office five days a week as a matter of course. In addition, according to Colliers, the number of bankruptcies is increasing and the growth of office jobs is limited.
Colliers speaks of “a serious trend break for the office market”. This is the first time since 2015 that more office space has become available. At its peak in 2015, there were 8.5 million square feet of office space available.
Since then, many outdated offices have been demolished or renovated, leaving only 3.7 million square meters of space in September last year. According to Colliers, the bottom now appears to have been reached and supply is increasing.
Furthermore, companies are placing increasingly higher demands on office space. The buildings must offer quality and comfort and meet the strictest sustainability requirements. As a result, there is increasing competition between real estate companies. Offices that do not have an energy label A+ or higher are empty for an average of two years.
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