The Future of Office Space - Post the Covid-19 Pandemic : How Will the Current Pandemic Change Trends for Office Space? A Study Based on the Principal Actors Within the Industry

Abstract: During the last year and a half, the current Covid-19 pandemic has changed many aspects ofour lives, and while we cannot yet for sure say what changes are here to stay, we do knowthat we might expect a new everyday-normal. This study aims to investigate the future ofoffice space and whether we can expect a change in demand for the required space needed,and in addition, discover what trends are on the rise. The study is based on qualitative data in the form of scenario-based interviews with principalactors within the industry, including real estate companies and tenants active within different sectors. By grounding my research and scenarios on scientific theories, such as behavior aleconomics, the rational expectations theory, symbolic interactionism and the familiar theory of demand and supply, well-grounded reasoning for future office demand and trends has been made. The results of this study suggest that a significant change in terms of the required office space needed is unlikely. A majority of the interviewees believes that we will bounce back tobusiness as usual and that the office space required decreases with no more than five percent. Organizations and real estate companies will base their decision on rational expectations, inaccordance with the rational expectations theory. Furthermore, the study highlights five main trends in the future. The first being a redesign of the office layout with additional smaller meeting rooms dedicated for focus-oriented work. The second one, elevated experience/services where full-services buildings will have to offer its tenants elevated and enhanced experiences in order to attract employees back to the office. The third the meidentified is increased expectations of employers which employees will put on their employers where flexible working policies will be demanded. The fourth is named change of purpose where the office will transform from solely being a place to get things done to becoming an even more social place and an important attractor for new talent. And lastly, time, shedding light on the importance of letting some time pass after returning back to “normal” in order for organizations to avoid making poor and costly judgment calls.