Obsolescence risks of office properties
residential and life science as potential solutions?
The office market in Germany is in a state of flux. According to our calculations, 75 million sqm of office space is threatened by economic obsolescence. In addition, up to 24 million sqm could be less in demand in the future due to people working from home.
This raises the question of whether there are new uses for this space and, if so, what challenges need to be considered.
We investigated these questions in our new study. Our analysis shows the market factors that make conversions economically attractive, particularly in residential and life science real estate.
Download the study Obsolescence risks of office properties – residential and life science as potential solutions?:
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„The conversion of office to residential properties could be suitable for 15-20 million sqm of the 75 million sqm potentially threatened by obsolescence, thereby creating 170,000 to 200,000 new homes.“
Your contact:
Andreas Trumpp
Head of Market Intelligence & Foresight | Germany
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