 "work from home,remote working,")
When the pandemic subsides, some of the old ways will return, but a significant change in the organisation of work is likely to remain. Real estate faces important shifts. In this article, we speculate about how this might pan out. Interaction-intensive consumer-facing services will demand less real estate. The impact on office space is more complex, but a decline in demand is likely. There will be important general equilibrium effects, interlinking the labour market and the real estate market. As supply will adjust slowly, the adjustment will be largely by the price.
Interaction-intensive consumer-facing services will face challenges. In malls,
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