Uncertainty Amid Covid-19 Dampens Demand For Office Space Worldwide
According to property consultant, DeVono Cresa, demand for office space in London dropped by 30% in the first quarter, fueled by virus and Brexit fears. Global financial institutions and serviced office proprietors are leasing less space worldwide in the wake of the pandemic. Although some businesses are cutting costs in the short term by migrating to the serviced office business model, many firms are reconfiguring their existing furniture layout and adding dividers or screens to adhere to social distancing guidelines in the medium term. In the long term, a major redesign of the workplace will be necessary to adapt to a new reality and changing business practices.
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