Working From Home and Corporate Real Estate

doi:10.2139/ssrn.3973122

Paper

Working From Home and Corporate Real Estate

Published Jan 1, 2023 · A. Bergeaud, Jean-Benoît Eyméoud, Thomas Garcia

SSRN Electronic Journal

UNKNOWN SJR score

12

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0

Influential Citations

Full textSemantic Scholar

Abstract

We examine how corporate real estate market participants adjust to the anticipated take-off of teleworking. We develop an indicator of the exposure of counties to teleworking in France by combining teleworking capacity with incentives and frictions to its deployment. We study how this indicator relates to prices and quantities in the corporate real estate market. We find that for offices in counties more exposed, the Covid-19 crisis has led to(1) higher vacancy rates, (2) less construction, (3) lower prices. Our findings reveal that teleworking has already an impact on the office market. Furthermore, forward-looking indicators suggest that market participants are anticipating a deeper shift to teleworking in the coming years.

Observational Study

Study Snapshot

Teleworking has already impacted the office market, leading to higher vacancy rates, less construction, and lower prices in counties exposed to teleworking.

PopulationOlder adults (50-71 years)

Sample size24

MethodsObservational

OutcomesBody Mass Index projections

ResultsSocial networks mitigate obesity in older groups.

Working From Home and Corporate Real Estate

References

Citations