A new year is upon us and with it comes new trends, opportunities and challenges. When it comes to commercial property trends for 2020, technology is a key influencer.
We take a look at some of the commercial property trends to watch next year.
Sustainability
When it comes to commercial real estate, a trend we can expect to see become more fundamental in 2020 is sustainability. With commercial properties tending to have a significant impact on the environment, we can expect to see an increase in green building certifications, as well as existing buildings being retrofitted with green features, and new buildings being built with these features and more. Not only will greener buildings help our environment, but they offer cost benefits too, by consuming less water and energy. For investors, green buildings can expect to have higher tenant attraction, rent, and sales prices.
Technology
Making use of technologies such as artificial intelligence (AI) and Internet of Things (IoT) is becoming imperative within the commercial real estate industry. One of the more popular ways that AI is being used in the industry is to automate leasing processes, while these technologies can also make invoice processing faster and have a positive impact on tenant satisfaction. When it comes to IoT data, this is very useful in terms of picking up insights and making decisions. Tenant preferences are also changing due to technological advancements, and commercial properties that don’t keep up run the risk of being left behind.
On-Demand Office Space
Trends in the workplace are shifting, which has an influence on commercial property. A greater focus on employee health, productivity and satisfaction is driving the demand for locations that have good access to major transport routes, as well as properties that provide suitable co-working spaces that will support remote working. Gone are the days of wasting time in traffic. We have already seen an increase in co-working spaces in South Africa, and this is predicted to increase with more workers wanting freedom and flexibility, and cost-conscious businesses who prefer the concept and cost benefits of on-demand space.
As experts within the commercial property auction industry, In2assets looks forward to what the future brings within this industry and believes that investors have a lot to look forward to when it comes to purchasing commercial property. To find property that suits your wants and needs, be sure to take a look at the commercial properties we have on auction. Visit our website at www.in2assets.co.za or contact us on 0861 444 769 or info@in2assets.com.
