Office Developer Sees Big Overhang If Work-From-Home Spreads
- Hungary’s Futureal bets on Polish apartments during pandemic
- Post-virus ‘new equilibrium’ key for commercial properties
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The shift to work-at-home programs during the coronavirus may pose a longer-term risk to commercial real estate while potentially lifting the market for apartments, according to the head of one of central Europe’s largest property developers.
With the region emerging from lockdowns and a recession gripping the global economy, employers are already looking to cut back desk space by as much as 30% to save money and maintain social distancing practices that are the new norm, said Gabor Futo, co-founder and co-owner of the Budapest-based Futureal Group.