In its “moderate” scenario, the need for offices, even with expected increases in population, will be 13% lower in 2030 than in 2019.
More generally, McKinsey says, demand for office and retail space will remain below pre-pandemic levels. In its “moderate” scenario, the need for offices, even with expected increases in population, will be 13% lower in 2030 than in 2019. Its “severe” scenario could see it decline by more than 35%.