ATLANTE, February 9, 2022 /PRNewswire/ — A new survey by CoreNet Global, the leading association of corporate real estate professionals, has found that global companies are currently using less office space than at the start of the pandemic, but many expect to increase the amount of space they occupy over the next one to five years.
The survey was carried out in January 2022 and generated over 300 responses from all regions, including North America, Europe, Asia and the Middle East.
According to the survey, when respondents were asked whether their business currently uses less space than March 2020:
- 45% said they used 0-10% less space than March 2020
- 12% said they used 10-20% less space than in March 2020
- 12% said they used 20-30% less space than in March 2020
- 16% said they used more than 30% less space than in March 2020
- 15% said they had increased the amount of space they currently use, compared to March 2020
Notably, many corporate property managers expect their portfolios to grow over the next five years. Forty-one percent said they would actually increase the amount of space they use, while 60 percent expected a net decrease.
Respondents responded as follows when asked “How do you think your company’s portfolio will change over the next five years, relative to the amount of office space your company currently uses?”
- 17% said the space would increase by 0% to 10%
- 11.5% said the space would increase by 10% to 20%
- 5.5% said the space would increase by 20% to 30%
- 7.2% said the space would increase by more than 30%
- 22% said space would shrink by 0% to 10%
- 17% said space would shrink by 10% to 20%
- 12% said space would shrink by 20% to 30%
- 8% said space would shrink by more than 30%
About CoreNet Global
CoreNet Global is a non-profit association, headquartered in Atlanta, Georgia (United States), representing nearly 10,000 executives in 50 countries with strategic responsibility for the real estate assets of large corporations. The organization’s mission is to advance the practice of corporate real estate through professional development opportunities, publications, research, conferences, designations and networks in 45 local chapters and groups of networks globally. For more information, visit www.corenetglobal.org or follow @CoreNetGlobal on Twitter.