The pandemic has changed the idea of both where we live and where we work. With working remotely being the norm, people no longer need to work out of an office building or space.
Smaller cities and suburbs are seeing a huge influx of interest. They seemingly have a better quality of life at a better cost of living.
The size of the typical office space could come down by 30% and as much as even 50% or more. It would be built for lesser people and with more open spaces. Conventional commercial real estate will evolve to cater to these new needs and trends of businesses.
As for residential spaces, we might see an increase in the demand for properties with home offices. Or at least with a space in the building or neighborhood for a co-working setup.
The ways in which people conduct their business and how they live their lives are changing. This is an opportunity for the industry to adapt and evolve to cater to the needs of the people and the market.
