Tey Yong Qing - How The Pandemic Continue To Fuel Commercial Real Estate Growth

1. How The Pandemic Continue To Fuel Commercial Real Estate Growth TEY YONG QING

2. No doubt the pandemic to some extent has changed how we work, live and interact with people. It has also influenced every other industry and the commercial real estate market is not left out. TEY YONG QING

3. At the beginning of the pandemic, people were asked to stay at home to reduce the spread of the virus and as a result work from home was adopted. As time went on many workers were so eager to return to their workplace but not in full capacity since the virus is still very active. TEY YONG QING

4. During the pandemic there were sectors of commercial real estate that hit an all-time high with steady activity, says Tey Yong Qing. TEY YONG QING

5. Retail spaces for pharmacies and grocery stores, warehouses for companies or businesses that are into e-commerce and self-storage facilities are sectors that have remained active.

6. Total Users The Commercial Real Estate Is Expected To Continue Growing TEY YONG QING

7. The demand for commercial spaces like warehouses increased rapidly during the pandemic due to the increase in sales in e-commerce at that time.

8. This year e-commerce will be expected to continue to fuel the demand for commercial spaces. Even before the pandemic many have been purchasing goods online due to the comfort it provides and the time it saves. TEY YONG QING

9. According to the law of demand and supply in economics when there is an increase in demand than the supply then price will increase. TEY YONG QING

10. What Are Expected From Landlords And Developers With The High Demand For Commercial Space

11. The high demand for commercial space means landlords and developers don't have to do much to get tenants that will pay higher rents to occupy their buildings.

12. Landlords and developers with buildings constructed with the latest technologies have a greater advantage over others with older construction but the only problem is that these types of modern buildings will be expensive to construct which will increase rents and taxes. TEY YONG QING

13. Pandemic Has Brought Changes To Redeveloped As Well As New Commercial Space

14. The pandemic has brought some changes to the construction and redevelopment of commercial space such as the ventilation systems of the buildings and layouts that support social distancing within the building TEY YONG QING

15. Recently some government agencies are now enforcing the use of green energy including other requirements in commercial development and redevelopment areas Some of the following factors are influencing commercial real estate:

16. Office vacancies The economy is bouncing back but people are still working remotely and some are relocating as companies resume back to the working environment, smaller spaces will be required and this will lead to many areas having vacancies.

17. Increase Demand And Less Supply More than ever before there seems to be an increased demand for commercial properties with less supply. And many real estate investors are taking advantage of this opportunity which makes commercial properties more competitive. TEY YONG QING

18. The Pandemic measures Many companies will not be able to abide by the pandemic measures that are given if their employees are to return to the office.

19. Recruit more doctors. Our first key focus. Considering the amount of space that will be needed to keep up with the conditions that are associated with the Covid19 measures. Some employees will even prefer to continue working remotely.

20. Conclusion The pandemic has changed a lot of things around the world and that includes how we live, work and the way businesses are conducted in real estate.

21. According to Tey Yong Qing, we can only wait and see how long the pandemic will continue to influence the rate of commercial real estate in the near future. TEY YONG QING