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.
- 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.
- 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.
- 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.
- With the depreciating value of the Rupee, NRI buyers in the commercial real estate business are likely to get a shot.
- 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.