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<p>The COVID-19 pandemic has drastically altered commuting patterns worldwide, primarily because of the rise in teleworking and the reduction in urban traffic congestion. These shifts may have decreased the demand for proximity to urban centers. Using large-scale rental transaction data, we test whether the bid-rent gradient with respect to urban proximity changed during and after the pandemic. We find that the rent gradient flattened, suggesting that teleworking reduced the value of urban proximity. Furthermore, we show that increased teleworking, as measured by a mobile location-based index, raised local housing rents and was closely associated with the flattening of the rent gradient. Our findings underscore the roles of teleworking and evolving location preferences in shaping urban structure.</p>

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COVID-19, Teleworking, and the Real Estate Market

  • 期刊论文

  • 发表日期：

    2026年4月11日

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  • Naoto Mikawa,
  • Michio Naoi,
  • Shohei Yasuda

摘要

The COVID-19 pandemic has drastically altered commuting patterns worldwide, primarily because of the rise in teleworking and the reduction in urban traffic congestion. These shifts may have decreased the demand for proximity to urban centers. Using large-scale rental transaction data, we test whether the bid-rent gradient with respect to urban proximity changed during and after the pandemic. We find that the rent gradient flattened, suggesting that teleworking reduced the value of urban proximity. Furthermore, we show that increased teleworking, as measured by a mobile location-based index, raised local housing rents and was closely associated with the flattening of the rent gradient. Our findings underscore the roles of teleworking and evolving location preferences in shaping urban structure.