CBRE EMEA Occupier Survey – What is the sentiment for office occupiers in Europe?
More than a year into the pandemic, office occupiers in EMEA are addressing a range of challenges. These start with the steps needed to support increased access to the office and include the shift towards new working patterns, in some cases hybrid, working arrangements. And while the timeframes involved vary, the issues are inherently linked.
CBRE's Jussi Niemistö, Head of Research in Finland, discusses the key trends and insights from the recent CBRE EMEA Occupier Survey.
The six Trends
Trend #1 - Offices will repopulate in the remainder of the year, led by small companies
Current levels of access to offices remain limited and variable, but companies are putting considerable effort into facilitating a fuller return. Most are targeting the remainder of this year.
Trend #2 - Mixed or hybrid working is the intended landing zone for most companies
Most companies, and nearly 80% of larger ones, are leaning towards some form of mixed or hybrid working pattern. Precise outcomes may depend on decision-making processes and the extent of employee influence.
Trend #3 - Offices feature strongly in corporates’ thinking about the future distribution of work, but they will be used differently
With very few companies targeting a fully remote solution, office-based work continues to feature prominently. A third of companies expect their portfolios to expand over the next three years.
Trend #4 - New work strategies will accelerate the growth of flex space markets
Corporate appetite for flex space will expand, partly to cope with demand fluctuations but also as a way of widening employee choice of working environments.
Trend #5 - Workplace solutions will be geared strongly around collaboration, engagement, and culture
Higher proportions of office space will be devoted to collaborative spaces. Companies accept the need to experiment initially with pilot workplace schemes in select locations.
Trend #6 - The portfolio and workplace strategies pursued by large occupiers will widen the popularity – and value – gradients between assets of different quality.
There is a range of challenges for the office occupiers in EMEA. How do occupiers assess these issues and what do they think are the likely outcomes? When do they see their office occupancy stabilizing and how will future working patterns be set? Will their portfolios expand or contract over the medium term, and what role do they see for flexible space as part of their space solutions? And what will be the main drivers, and outcomes, of their future workplace strategy?
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