Telecommuting Named Top Commercial Real Estate Challenge: Report – Commercial Observer

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The uncertain future of office space due to rising trends in telecommuting has been identified as the most pressing issue that will affect commercial real estate professionals worldwide in the near future, according to a new study published Real Estate AdvisersThe commercial commentator may first report.

Teleworking and mobility has been ranked # 1 by the Trade Group in its Top Ten Issues Affecting Real Estate. report released Wednesday, followed by accelerated technology development and innovation in second place.

“Teleworking and mobility is something that raises serious concerns in real estate: what behavior and to what extent teleworking will persist, and time will tell,” he said. Michelle Cuillard, Advisors to the International Department of Real Estate CRE 2021. “COVID has really impacted human behavior in terms of where and how space will be used, and it is likely that commercial real estate will need to change to meet this changing demand.”

Couillard, who is also President and CEO BUSAK Real Estate in Montreal added that all real estate sectors will closely monitor migration and work habits from home will continue after the pandemic. He emphasized that the flexibility of landlords will be critical to improve building occupancy as employers seek more adaptable and comfortable spaces for their workforce.

IN The acceleration and adoption of technologies such as video conferencing has been deemed to have the second largest impact on the commercial real estate industry, as the pandemic is forcing companies to adopt change faster, Cuillard said. He noted that innovations that have gained more acceptance in the past year, such as e-commerce, technology and artificial intelligence, will force real estate professionals to make more changes.

Environmental, Social and Governance (ESG) Initiatives ranked third this year among the challenges at the forefront of the real estate market, driven in large part by changes in consumer preferences. regulatory requirements and the transfer of wealth to a younger generation that is more committed to social goals.

Supply chain logistics, infrastructure, housing supply and affordability, political polarization, economic change, adaptive reuse and bifurcation of capital markets completed the rankings from fourth to tenth, respectively. Couillard said the group plans to host at least one webinar a month on each of the 10 issues over the next year, as well as post podcasts on them.

“The common and unifying theme for each of these issues is the acceleration of trends and change,” said Couillard. “Some of these trends and changes will remain constant, and to what extent remains to be seen, and this is what we will be looking at over the next few months.”

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