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

 

Tey Yong Qing

During the pandemic there were sectors of commercial real estate that hit an all-time high with steady activity, says Tey Yong Qing. 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. What then should we expect in the commercial real estate market as an investor planning to invest in the real estate market.

 

The Commercial Real Estate Is Expected To Continue Growing


The demand for commercial spaces like warehouses increased rapidly during the pandemic due to the increase in sales in e-commerce at that time. 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. But because of the stay-home orders and the fear of contracting the virus during the pandemic online shopping became more dominant. As a result, luxury shopping became a necessity in various nations around the world which is what increased the demand for logistics providers, warehouse space, and distribution centers. According to the law of demand and supply in economics when there is an increase in demand than the supply then price will increase. This means the price for rents will keep going up and the value of lands for industrial purposes will keep increasing. 

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

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. The only problem here will be competition among landlords and developers to get tenants that are ready to pay. 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. 


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