Office
As the office market faces the potential of changes demanded by the post-COVID environment, Budapest must also deal with challenges over demand and supply, developing expectations from tenants, and the sourcing of plots in emerging districts of the city. Budapest Business Journal real estate editor Gary Morrell has asked local office market professionals how they see the post-pandemic environment and its impact on demand and potential preleases. Will this encourage the undertaking of new office projects, how are office and remote-based working habits seen in the longer term, and what the role of property management and facility management will be in the new environment? Will the role of sustainability accreditation be enhanced, and what are the potential new business districts?
We have already overcome the first hurdle; the market has clarified that offices are needed, they will not go away completely. In the post-pandemic world, companies will need to adapt to the new norm, to have a more balanced split between working from home and working from the office. On-site working will prevail, but the home office will be a more substantial part of our life than before COVID. The office environment remains the primary place to work; however, it will have to adapt to the new norms. The internal configuration of offices will have to adapt as well, as people will use the office for partly different purposes than before. But first, employers will have to gain the full confidence of their people and convince them that the office is a safe place to work.
Valter Kalaus
Managing Partner
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