The COVID-19 pandemic has already changed and will continue to change working conditions in the long run. Companies have opened up for work from home solutions and hybrid work models seem to be the future. The recent increase in flexibility will enable companies to realise efficiency gains. On its own, however, remote working does not necessarily increase productivity per se. As employees work remotely, serendipity suffers. In Germany, demand for traditional office space appears likely to weaken in the medium term but the decline is likely to be smaller than the initial euphoria for remote working suggested. Demographic developments will considerably reduce the German workforce. Remote working may help to ensure workforce participation. We expect that working at the office and remote working will be combined in some way in the future - work from home has come to stay. [more]