Commercial real estate has gone through massive disruptions in the last 18 months and the pandemic has accelerated change and several trends in the real estate sector. One of the trends at the forefront is office spaces and its redesign centered around productivity, efficiency, and safety.
As far as leasing activity is concerned, leasing activity in the commercial real estate office market is only expected to show improvement in 2022 with population vaccinated, corporates revaluating their portfolios and employees returning to work in offices.
India’s economy is at a good stage currently and the real estate sector has also bounced back in record time. Taking these into consideration, next year is poised to be the year of recovery for the commercial real estate industry and there is an expectation to recover to pre pandemic levels of leasing activity.
During 2020 and 2021, investor sentiments remained positive and investor confidence in the CRE industry and economy continues to be optimistic. We are witnessing a positive sentiment amongst investors, and money/investments is will most likely continue to flow in as the industry steps into 2022.
Massive vaccination drives and gradual easing of lockdowns this year shows that businesses are finally returning to normalcy and occupiers today have a strong inclination towards coworking/flexible workspaces. Technology and health will play a huge role going forward and CRE needs to embrace innovative tech-enabled solutions so that the new age workplaces are built around employee well-being and safety.