COVID-19 is accelerating the presence of digitization and telecommuting in the real estate market and they are at the epicenter of new demands.
BY RRHHDigital, 04:45 – 25 August 2021
The effects of COVID-19 are the main causes of the changes shaping the future of the international real estate industry. The rise of digitization due to the establishment of new routines such as teleworking or online shopping have shifted market demand towards these trends. For this reason, the residential and digital sectors will prevail over demands related to the hospitality or retail sector.
Anna Puigdevall, treasurer of FIABCI Spain and general manager of the Association of Real Estate Agents of Catalonia (AIC), ensures that these assets have become a turning point for the sector. “The measures that have been put in place in the wake of the pandemic have generated different needs among customers. Teleworking has made them now place more importance on the exterior elements of homes. continue to choose the presence need larger offices to be able to guarantee social distancing and avoid contagion between workers ”.
Another measure that has affected the real estate market is the restrictions on mobility around the world. This fact has prompted large investment portfolios to opt for properties located in their home country. “The prospects for European investors lie mainly in Germany, since some of its main cities, such as Berlin or Frankfurt, have succeeded in protecting the economy against the ‘hurricane’ COVID,” confesses Puigdevall. However, the reduction in international investment has led Spanish portfolios to choose cities like Madrid or Barcelona when looking for real estate.
The importance of environmental issues
Interest in issues related to climate change or reducing emissions has been increasing in recent years. The onset of the pandemic has heightened the need for improved sustainability, especially in homes and offices. “Today more than ever, NetZero certification is enjoying great appeal around the world. One of the challenges of this 2021 is to increase customer engagement based on energy consumption and to promote sustainable buildings and housing. The arrival of European funds will be decisive. to be able to promote it ”, assures the treasurer of FIABCI Spain.