London Leads the Charge: Return to Office Gains Momentum
London is bucking the European trend and seeing a significant return to office life, according to recent data analyzing lift usage. A study by elevator manufacturer KONE, tracking over a billion lift journeys across ten cities, reveals London as one of only two cities experiencing accelerated year-on-year growth in office occupancy in 2025.
The Lift Data Tells a Story
KONE’s data shows an 11% increase in lift activity in London during January 2025 compared to the same period last year. This consistent month-over-month growth contrasts sharply with cities like Frankfurt, Rotterdam, Barcelona, and Berlin, which are experiencing a decline in office visits. Paris showed growth, but at a slower pace of 8%.
Commercial Property Boom in London
This shift is reflected in the commercial property market. Data from Knight Frank indicates that 70 out of 98 significant office deals (over 20,000 sq ft) in central London last year involved companies expanding their office space, while only seven involved downsizing.
Demand is driving up prices, with a record 170 leases signed at over £100 per sq ft last year. Prime rents in the City of London rose nearly 8% in 2025, and even higher – over 15% – in the West End. Vacancy rates for new office spaces are now below 1%, prompting warnings of a potential supply shortage.
Reversal of Fortune for Some Firms
The return to office working hasn’t been without its complexities. HSBC, for example, initially reduced its office footprint in Canary Wharf, only to subsequently re-lease space as demand increased.
What Does This Mean for the Future of Perform?
The data suggests a broader recalibration of working practices is underway. Initial predictions of a permanent shift to remote work appear to be overstated, at least in London. The preference for in-person collaboration and the benefits of a physical office environment are driving this trend.
The Role of Data Science and AI
The use of data, like that collected by KONE, is becoming increasingly important in understanding and adapting to evolving work patterns. Data science and AI are being leveraged to analyze trends and inform decisions about office space and workplace strategies.
FAQ
- Is the return to office happening everywhere? No, the trend is most pronounced in London, with other European cities showing different patterns.
- What is driving the return to office? Factors include a desire for collaboration and the increasing demand for office space.
- Is there a risk of office space shortages? Yes, vacancy rates are low, and Knight Frank is warning of a potential supply shortage.
What are your thoughts on the return to office? Share your experiences in the comments below!
