Office real estate prices could be facing an “apocalypse”

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A study by the National Bureau of Economic Research (opens in new tab) (NBER) examining the effects of the Covid-19 pandemic on our working environments has predicted what it calls an “office real estate apocalypse”.

The September 2022 paper found a significant 45% decline in office values during 2020, with a longer term fall of 39%. The NBER places the long run figure at an alarming $453 billion, however among the findings was a hint at how offices can protect themselves against impending doom.

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