Leading property website Property Industry Eye, drawing in part on an insight note from Greycoat Real Estate, has highlighted some interesting shifts in the commercial property market. Remote work is one primary reason for the shifts. The COVID-19 pandemic, of course, upended work and home routines.
Thus, it ended up forcing office employees worldwide to trade cubicles for kitchen counters. Even after Covid-19 receded as a terror, many companies are expected to allow employees to work from home several days a week. During the post pandemic era, this trend kept on. Greycoat real estate experts recall how that prospect is prompting a reconsideration of where to live. The report also states that we face a growing awareness of climate change.
Therefore, more home buyers are looking for those houses, which can be served as eco-friendly houses. Such buildings are designed adequately, operated decently, and maintained in a manner so-called for monitoring. Energy efficiency, durability and longevity of the house, and sustenance of the resources are the characteristics of eco-friendly homes. Greycoat Real Estate said that developers of eco-friendly buildings should ensure that they are in demand with the passage of every year.
By raising the level of energy efficiency within the market, the levels of annual returns of investors can climb further. Another notable trend is the popularity of flexible lease terms, particularly for younger tenants. As Greycoat agents are recently aware of, in a world of increased job mobility and evolving industry landscapes, moving to the city for just a year or two is the new status quo.
Therefore, short–term leases and agreements that allow for changes are a top tenant request, Greycoat finally states. While these growth areas are intriguing and should be noted, it’s always important for investors, developers, and homebuyers to keep an eye on how the property market continues to change and how those in the industry adjust in the coming months and years.