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Office Space Shrinks, Home Space Increases
By: Tupaki Desk | 25 Jan 2021 5:04 AM GMT
One major effect of the Corona is the shrinking office space across the major cities in the country. But, at the same time, there is a corresponding increase in the home space. The residential space increase is maximum in Hyderabad, but most cities have shown an upward trend.
Sources say that this is mainly due to the increasing trend of working from home. With most employees now working from home, the need for more home space has grown and correspondingly, there is an increase. According to a major survey on residential space trends, there is a 10 per cent increase in residential space across seven major cities. On an average the residential space has gone up from 1050 sq ft in 2019 to 1150 in 2020. In Hyderabad, the average residential space stands at 1750 sq feet, according to the survey.
Accordingly, the office space has seen a shrinkage during the same period. Interestingly, the demand for small office space has not diminished. It is the large offices that are getting affected, says the study. The trend could continue even in 2021, predicts the study.
Sources say that this is mainly due to the increasing trend of working from home. With most employees now working from home, the need for more home space has grown and correspondingly, there is an increase. According to a major survey on residential space trends, there is a 10 per cent increase in residential space across seven major cities. On an average the residential space has gone up from 1050 sq ft in 2019 to 1150 in 2020. In Hyderabad, the average residential space stands at 1750 sq feet, according to the survey.
Accordingly, the office space has seen a shrinkage during the same period. Interestingly, the demand for small office space has not diminished. It is the large offices that are getting affected, says the study. The trend could continue even in 2021, predicts the study.
