Almost four years after the pandemic, remote work still shapes Miami’s commercial real estate scene. A U.S. Census survey found that about 15% of Miami-Fort Lauderdale workers telecommuted in 2022, only slightly down from 16% in 2021. Despite this shift, the number of lease transactions remains strong, with Miami seeing 331 office leases in Q2.

The city has almost 2 million square feet of office space under development, indicating confidence in future growth. Although remote work is prominent, the 10% surge in local office rental rates highlights the ongoing importance of physical office spaces.

(source: axios.com, image: Mimi Di Cianni)