From remote work to structural vacancy: Corporate Real Estate Transformation in European Markets

Abstract Book of the 11th International Conference on Management, Economics and Finance

Year: 2026

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From remote work to structural vacancy: Corporate Real Estate Transformation in European Markets

Dr. Ines Trojette

ABSTRACT:

The rise of remote and hybrid work has transformed office demand across Europe and contributed to increasing office vacancy rates. This paper examines the determinants of office vacancy in eight major European metropolitan areas between 2010 and 2024 using panel data.
The results reveal a significant positive relationship between remote work adoption and office vacancy. They also highlight a growing fight to quality effect, with firms increasingly concentrating demand on sustainable, energy efficient, and well located office buildings. Vacancy appears highly persistent, suggesting that current trends reflect structural changes in corporate real estate strategies rather than temporary market fluctuations.
The findings have important implications for office redevelopment, urban planning, and sustainable real estate policies in European cities.

Keywords: Office Vacancy; Remote Work; Corporate Real Estate