What happens when an entire city goes remote? This research deep-dive uncovers a shocking twist: remote work is actually pushing companies toward premium central locations, not away from them.
Martin explores Olivier Denagiscarde's breakthrough study "Remote Work and the Intracity Dynamics of Office Markets: Evidence from Paris" - a comprehensive analysis of 233 municipalities that challenges everything we thought we knew about remote work's urban impact.
The surprising findings:

✓ Office vacancy surged 2+ percentage points in remote-work areas

✓ Even brand-new, high-quality buildings sitting empty

✓ Investment activity crashed 10% with major price discounts

✓ Local restaurants and services lost 2.5-3% of jobs

✓ Supply side frozen - virtually no conversions or construction changes
The paradox explained:

When companies need half the space, they can afford twice the rent per square foot. This "flight-to-quality" creates winners (premium central districts) and losers (peripheral business parks).
Why this matters globally:

These aren't temporary pandemic effects. The patterns persisting through 2023 reveal persistent structural changes affecting investors, planners, and policymakers worldwide. This research provides the first solid empirical evidence of how remote work reshapes cities from within.
Essential for real estate professionals, urban planners, investors, and anyone curious about the future of work and cities.
Disclaimer: The audio was generated using AI.
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