Telecommuting plunges office real estate into crisis

by time news

2023-07-20 23:04:53

At the Docks, in Saint-Ouen-sur-Seine, a 180,000 m business district
2. José Carosso Le Figaro

INVESTIGATION – In some business districts, entire buildings are empty.

Sometimes, we see in the distance an employee smoking a cigarette at the bottom of a tower or a resident crossing the embankment without life. At the Docks, in Saint-Ouen (Seine-Saint-Denis), a vast business district of 180,000 m2, it feels like being back in full confinement. The streets are deserted and the buildings, however state-of-the-art, with their glass facades and trees growing on the floors, only accommodate a few security guards. In this business zone, which is now served by two metro lines, almost 40% of the square meters of available offices are for rent. A huge figure that speaks well of the difficulties experienced by tertiary real estate in Île-de-France.

Companies, which have long been fond of these 100% office districts outside of Paris, because they are two to three times cheaper than those in the capital, are now shying away from them. The health crisis is over there. It has completely reshuffled the cards in the office market. With the generalization of telecommuting…

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