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Those in commercial real estate had a hard time in 2020. Thankfully, the property market is now hot, and things are looking up for realtors and brokers!
As we have learned, the commercial real estate market keeps constantly evolving, which is why real estate professionals must continuously try to stay on top of all trends and local shifts. To remain competitive, they must embrace the trends here to stay and try to make the best out of the situation.
We asked a few experts who will be attending our upcoming real estate conferences in 2022 about a few of the trends that will rule the industry. Here are two predictions they made:
Interest in commercial spaces will go up
While residential spaces are selling off like hotcakes, the same can’t be said for office spaces at the moment as most employees are still working from home. However, many major companies will resume normal operations starting from May 2022, after which the commercial real estate market will witness a huge boom. This will herald the post-pandemic recovery of the real estate industry. Healthcare and pharma companies, in particular, saw a sharp increase in revenue in 2020-21, which will inevitably translate into expansion plans,.
In addition to this, we must also consider the overwhelming growth of online shopping, which refuses to slow down even in the last quarter of 2021. In the coming months, we will see more requests for fulfillment center spaces and warehouses, both from e-commerce leaders as well as big and small retail businesses.
Millennials will dominate the office space buying trend
A huge chunk of buyers of commercial spaces will include millennials. This is an interesting trend because they won’t be going through traditional channels to look for spaces. Instead, they will look online. This is why it is all the more important for realtors and brokers to strengthen their digital presence before the demand rises.
Also, millennials will also enter the commercial real estate space with questions regarding the sustainability and power-saving features of the buildings they are interested in. They will seek out properties with state of the art technology to complement their tech-savviness. The safety and well-being of employees too, will play a huge role in their property-buying decisions. Therefore, realtors will have to build a portfolio of buildings and spaces that have been designed keeping COVID-19 guidelines in mind.
This is just a quick overview of what the commercial real estate space will look like in 2022. For a deeper dive into the new tools, technologies, and trends that will dominate the industry in the coming years, do attend industry events and post-COVID real estate conferences in Dubai and Las Vegas, such as the Realty 2.0 Conference. Here, you will discover crucial insights, ideas, real estate investment strategies, and get the opportunity to converse with buyers and sellers. In addition to this, the conference provides multiple avenues to promote your real estate business on a global platform. Get in front of prospects and expand your horizons by booking your pass now!
Shams cultivates a keen interest in PropTech and buying and selling trends in the world of real estate. He is currently exploring how to spot fake property investments schemes, real estate fraud, and scams, as well as steps everyone can take to stay safe from them. A bibliophile, Shams loves binge-watching shows on weekends.