The Work-from-Anywhere Revolution: Impact on Real Estate Development

The COVID-19 pandemic forever changed the way people work. As millions of employees transitioned to remote work, it became clear that the future of work would no longer be tethered to the office. This new paradigm, often called the "work-from-anywhere" revolution, has had a profound impact on real estate development, particularly in lifestyle-driven markets.

Before the pandemic, migration patterns were already beginning to shift, but the onset of widespread remote work accelerated these changes. A 2022 study by the Pew Research Center found that over 59% of workers with jobs that can be done remotely were still working from home (1)

This flexibility has allowed employees to move away from expensive, congested cities and into smaller markets that offer a better quality of life. As a result, lifestyle markets—particularly those with natural amenities—are seeing an influx of residents (2)

Data from the Federal Reserve highlights that this trend has bolstered housing demand in regions that were previously overlooked by developers. For example, in the Mountain West, cities such as Salt Lake City and Boise have seen strong growth in both population and home prices as remote workers seek out locations with natural beauty and affordability (3)

The National Bureau of Economic Research also notes that the remote work revolution has significantly impacted residential and commercial real estate values, reshaping the future of cities (4)

For real estate investors, understanding the implications of remote work is crucial. Developers should prioritize projects in markets that appeal to this new generation of remote workers—places that offer a balance of affordability, amenities, and lifestyle. Moreover, the growth of remote work is expected to continue, as companies adopt hybrid models that allow employees to work remotely for part of the week. Investors who focus on areas that cater to this demographic shift stand to gain significant returns in the years to come (5)

1: Pew Research Center, "How the Pandemic Has Changed the Way We Work," 2022.

2: Federal Reserve Bank of Philadelphia, "The Increasing Significance of Natural Amenities in Housing Demand," 2023.

3: Federal Reserve Bank of Philadelphia, "The Increasing Significance of Natural Amenities in Housing Demand," 2023.

4: National Bureau of Economic Research, "The Remote Work Revolution: Impact on Real Estate Values and the Urban Environment," 2022.

5: Raymond James, "Remote Work and Its Effect on Real Estate," 2023.