With so many Australians still working from home, some voices in the property industry are suggesting office towers be converted into apartments.

Residential properties are hard to come by to rent or buy, but with so many people not going into a physical office anymore, there is plenty of unused office space in our capital cities.

Chief executive of architect firm, Place Studio, James Alexander-Hatziplis, expects an increase in the number of CBD offices being converted into residential dwellings over the next few years.

“Several of the country’s CBDs have recently witnessed an increase in office vacancies and thus falling property yields, this is despite the end of COVID-19 and employees returning to the office, at least part of the week,” he says.

Property Council of Australia figures show to the end of January, Melbourne CBD’s office vacancy was 13.8% and Sydney’s was 11.3%.

Alexander-Hatziplis says office buildings typically have very high ceilings, so conversions could offer a “superior product”.