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Trends Shaping the Commercial Estate In New Normal

The New Normal with unprecedented challenges has not only slowed down the economy but has also brought down the streaks in the commercial estate industry.

This year, the commercial real estate professionals dealt with an array of changes, from arranging virtual tours to dealing with the blow of Work-From-Home.

The Work-From-Home culture has caused a serious shift from centralized offices, and only time knows when things would roll back to shape.

When everyone is trying to stay afloat in this pandemic, virtual work hours have not eased things but have rather made operations a bit strenuous.

But as per the new normal, the business place has to keep the safety protocols in mind as well, So how would the gaps likely get filled?

Let us elaborate on the trends that would eventually shape the commercial estate in a post-covid world.

  1. Firstly, there would be a rise in technology-driven smart commercial space. Earlier, the business place could at least think of doing away with inbuilt smart amenities. 

But after this new normal, with only 50% of the workforce operating at a time commercial spaces should have to have the necessary amenities to deal with a scattered workforce.

  1. More spacious commercial spaces are likely to be followed. Whereas an employer, you would like to ensure that your employees are following social distancing. On the similar side of the coin, you would likely opt for a more spacious space.
  2. As market dynamics propagate, developers would come with new product offerings eventually. Additional benefits of re-planning the floor plan, evolved payment plans, leased assistance, and assured rentals are more likely to be followed.
  3. With the depreciating value of the Rupee, NRI buyers in the commercial real estate business are likely to get a shot.
  4. Safe distanced co-working spaces would also get preference in this real estate business.

With all these trends, the commercial spaces would definitely witness some out-of-the-box solutions at par with the current situation, which only time would tell us.

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Why this is the right time to buy commercial space?

A perfect business needs a perfect place to start with. 

Why run the risk of making a bad impression from an average place when you can easily get a cool equipped commercial space?

A commercial space reflects a lot about its offerings. When getting a rented place comes with a lot of many complexities, buying is more of a permanent and long term solution.

Amidst the pandemic disrupting every business activity and even staggering economic activities.

As a buyer, you can totally exploit this situation, to your advantage.

Want to know how?

Here’s how:

Now is the golden hour

This 2020 has surfaced all the improbable and unprecedented events around the world. In these tough times, when things have been in down-turn for almost every industry.

Real-estate has emerged differently.

In the last 15 years, this is the first time in the real estate industry, that it has fitted into the buyer’s shoes. 

That is now is the time, when you can negotiate on lesser than the quoted price. You can re-draw the arguments in your favour as the ball is in your court.

The positive supply-side factors

The 2020 crisis being largely different from what 2008 represented, sellers are now more responsive to newer projects.

To keep the oil running, sellers now present a wider variety of pricings with offers, which has made the property prices more affordable.

The good demand-side implications

The situation right now favors the buyers more with a higher Loan to Value ratio(LTV), lower valuation, and cheaper credit availability.

Investment as an option:

With under-performing mutual funds and the volatility of the stock market, investing in real estate is a more stable and secure option.

Rental yield:

Considering the situation right now, if the rental yield of a given property is more than 3.5%, buying it off is a more prospective option to have a future capital appreciation.

With all of these pointers, we guess it’s clear to you why this is the best time for you.

So, gear up as now is the time to get your business the necessary upgrade by buying a commercial space.

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