3 Trends Of The Office For Rent Market During Covid-19
When Covid-19 happens, Space changes, businesses reduce density, focus more on increasing the area of interaction between employees due to more and more remote working. Here are 3 trends of the office rental market during the Covid-19 epidemic. Grade A rents keep stable or decrease slightly During Covid-19 In Europe, when Covid-19 happens, most markets maintain stable office rents with a change of only about 2% a year. Some places recorded a decrease in rents such as Dublin (Ireland) down 12%, Cologne (Germany) down 8%, and Barcelona (Spain) down 4%. In other cities such as Hamburg, Berlin, and Munich, high-end office rents recorded modest increases. Secondary rent here is forecasted to remain stable in the short term but will adjust if the landlord does not fully meet the needs of guests. In the future, rents are forecast to stabilize or decrease slightly by only about 1% before the blockade orders in a few major cities. In the short term, incentives for tenants will still be p...