Figure for February: 136,000,000 m²

By 2025, 136 million square meters of office space could be converted into apartments. This was the finding of a recent study by the German Homeowners' Association. In city centers suffering from housing shortages, this would provide some relief. By shifting office workstations to home offices or coworking spaces, 235,000 new apartments could be created in city centers. Converting these spaces could be done with relatively little effort.

According to the study, up to 1.86 million apartments could be created in this way by 2040. This would relieve pressure on the housing market and provide more affordable housing. Compared to new housing construction, converting office space would have three major advantages: 1. lower construction costs, 2. greater space efficiency, and 3. reduced CO2 emissions.

While new construction costs an average of €3,123 per square meter, converting office space is only about half as expensive at €1,624. Land use can also be significantly reduced, as no new sealing of land is necessary. Converting more apartments in city centers would also reduce commuting, potentially saving five to ten million tons of CO2 per year, according to the study.

Converting purely office buildings into a mix of apartments, offices, and coworking spaces could also boost the revitalization of city centers. From an urban planning perspective, mixed-use cities are highly desirable. Appropriate incentives from legislators could promote this conversion, for example, through special depreciation allowances for owners of commercial properties who create new living space within these buildings.

Note:
For the sake of readability, this text uses the generic masculine form. Female and other gender identities are explicitly included where relevant to the statement.

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