How remote working affects the real estate industry

Remote work

Remote work was a growing trend long before the pandemic. Even before the health crisis, the French were, according to studies, between 8 and 12% to work remotely. This figure rose to 43% during the first confinement. Now, a lot of employers recognized that they can hire talent from all over the world while reducing overhead. In this article, us discuss how remote work affects real estate markets to provide investment insights, and also provide insight into how seemingly simple work habits can impact this market.

 

Different Priorities

Le remote work gives people the opportunity to buy bigger homes in their favorite places. It is no longer necessary to restrict searches to a radius of 30 to 60 minutes by car from the workplace. Buyers can therefore now consider buying homes in more rural or suburban areas with more affordable property prices and better schools.

Essentially, many people seek to live permanently in their favorite vacation spots, because they can! However, this inspired should not depress property prices in major city centers, which remain in high demand, due to their amenities and job opportunities in the big cities. In addition, not all work can be done remotely!

 

Home offices

More space at home is not only needed for a gym, but also to accommodate the home offices. Although this trend appeared long before the pandemic, it has noticeably and naturally accelerated.

Home workspaces that promote creativity and focus are increasingly in demand.

home office

 

Remote Real Estate

The real estate sector itself is also increasingly digitized. All the necessary technologies enabling remote real estate already exist, such as virtual tours, digital documents and signatures, online rent collection portals, online tenant screening, as well as online communication with those who carry out the work.

Anything related to real estate can be done remotely, and these tools will only become more accepted and easy to use in the future.

It also means that investors can invest remotely and manage their properties remotely, increasing the geographical reach of real estate investments.

Remote real estate helps investors seamlessly diversify their real estate portfolios, making them more resilient and ready to deal with a variety of economic outcomes.

Remote Real Estate

 

Rehabilitation of small and medium towns

As remote work becomes more accepted, remote workers are finding opportunities in areas with cheaper properties and with more space.

At this point, not all companies are 100% remote, but many now require employees to only come into the office a few days a week. This trend fact that small and medium towns have become more popular thanks to easy accessibility, more schools and lower real estate prices.

French real estate

 

New strategies for investors

As remote work reduces demand for commercial real estate and e-commerce reduces demand for physical stores, many investors who previously prioritized commercial real estate are turning to high-potential residential properties.

This trend also means that distressed commercial real estate will be widely available and could be reallocated to apartment buildings or other enterprising projects.

 

En conclusion

Remote work evolved long before the pandemic, the Covid has just accelerated its widespread acceptance. Remote working is having a huge impact on real estate trends not just in France, but around the world, and it's almost certainly here to stay, meaning it will have a permanent effect on the way people live their lives. life and discuss real estate.