The end of the office as we know it?

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FNB’s Commercial Property Finance 2021 Property Market Outlook report is forecasting that commercial property values will decline by 7% this year and it projects a further decrease of 9% in 2021.

This is compounded by companies such as Shoprite and Capitec, which have previously said that they have seen an increase in productivity since their employees started working from home. had seen a decline in its employees asking for sick days, especially among call centre workers.

“Office space repurposing into high-density residential property on the affordable end has been tried and tested in the CBDs”, said Loos. Estelle Meiring, a director at Paragon Architects, said the emphasis of office space in the future would shift away from “a place to sit and work to a place to communicate, collaborate and build company culture.”

Meiring expected to see a move away from open-plan layouts, with wider corridors and doorways, more partitions between departments and more staircases.

 

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