People's working habits have shifted dramatically in recent years. While freelancing and the gig economy was already on the rise prior to the pandemic, the pandemic's furloughs and layoffs significantly increased the number of people doing this type of work.
Fremont, CA: To say that commercial real estate has experienced significant disruption in the last year is an understatement. Some real-estate companies have undeniably struggled as a result of many companies using the covid-19 pandemic as a chance to downsize their offices and transition to a more remote workforce.
On the other end of the spectrum, rising demand for apartment housing has contributed to the recent record-breaking real-estate investment volume.
Here are some ways you can get in on this disruption:
Invest in Co-working Spaces
People's working habits have shifted dramatically in recent years. While freelancing and the gig economy was already on the rise prior to the pandemic, the pandemic's furloughs and layoffs significantly increased the number of people doing this type of work.
At the same time, many people have discovered firsthand that working from home isn't always the best option. Working in a small apartment with your spouse, children, and pets makes it all too easy to be interrupted.
To address this, many people in the gig economy – and even in traditional business spaces – are turning to co-working spaces. Workers may be self-employed or employed by different companies, but they all share the same shared office space, as well as its resources and expenses.
With the number of freelancers on the rise and more businesses looking to downsize, commercial real-estate investors would be wise to provide co-working options to fill their properties.
Using Data Analytics
While AI and machine learning have become commonplace in many industries, commercial real estate has lagged behind. This isn't always due to a lack of technological options. Instead, the industry as a whole is resistant to change.
While this may cause traditional real-estate investors to lag in our increasingly tech-driven world, it also presents a significant opportunity for potential disruptors. Managing data in a way that enables you to extract powerful insights and generate accurate reports is critical for identifying opportunities and threats to your overall business.
You can automate much of the work and be better positioned to identify and act on key insights by taking advantage of the growing number of software solutions designed specifically for the commercial real-estate niche.
