What a waste of space
02/08/2015 - 13:57

According to KTI Kiinteistötieto 16% of Finnish office space is standing totally empty, with no-body renting, no-body using it at all. For the remaining office space the utilization rate of workstations is 51% and the utilization rate of meeting rooms is a mere 39%. These figures are based on a study conducted by Rapal in the Helsinki metropolitan area.

From these figures one could conclude that approximately a half of the facilities built for office use are not used at all during the office hours. And if we are thinking 24/7, the utilization rate of the Finnish office space is probably a little more than 10%.

As the cost of office space in Helsinki is about 700 euros per square meter per year (Cushman & Wakefield 2013)  and the total office space in Finland is about 20 million square meters (Tilastokeskus 2014), it is quite clear that we are wasting a lot of money in this country by paying rent for none-used space. And at the same time, the property owners are losing a lot of  rent money by not having any occupants in their property. If we add all the heating and other maintenance costs to the calculation, the figures will look even uglier.

From a single company’s point of view, a company with 10 000 square meters of office space, the waste of money is easily about 4 million euros a year.

My question is: how can we afford this waste of space and wouldn’t it be a high time to start doing something about it?

P.S. I’m afraid the situation might not be much better in the other European countries either.

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