Macklowe Properties
- As remote work remains popular, office buildings will become increasingly empty.
- Goldman Sachs estimated vacant office space will jump by 267 million square feet over the next decade and beyond.
- Office leases will see a big ramp-up in expirations starting in 2030, a note said.
As remote work becomes more entrenched, property markets should gear up for plummeting office demand as leases expire over the next decade.
That's according to a Goldman Sachs note, which found that the share of US workers who are at home has stabilized in the 20%-25% range, below pandemic peak of 47% but well above the pre-pandemic average of 2.6%.