Commercial real estate is constantly evolving, and 2023 is set to bring new trends and shifts in the industry. Neetish Sarda, founder of India’s largest managed workspace platform has been scouting the market to understand the up-and-coming needs of the enterprises and what shifts can be expected by the operators.
From increased demand for logistics and industrial properties to the growth of co-working spaces and sustainability, here are some of the key trends to look out for in 2023.
Logistics and Industrial Properties in High Demand
The rise of e-commerce has led to an increased demand for modern and efficient logistics and industrial spaces. Companies are looking for locations that can provide quick and easy access to customers, as well as flexible and scalable solutions to meet their changing needs. As a result, we can expect to see continued growth in the demand for logistics and industrial properties in 2023. Neetish Sarda shares that this is the time for enterprises to look for more flexible options that can accommodate the expanding and evolving environment.
Growth of Co-working Spaces
With remote work becoming increasingly prevalent, there is an increasing demand for flexible and cost-effective co-working spaces. These spaces provide a professional and productive environment for remote workers, freelancers, and small business owners. Co-working spaces are also becoming more versatile, offering a range of services and amenities that cater to a variety of needs. In 2023, we can expect to see continued growth in the co-working space industry.
Focus on Sustainability
Investors and tenants are putting a greater emphasis on properties that are environmentally friendly and energy efficient. Properties that are certified as “green” or have achieved high sustainability ratings are in high demand, as they offer lower operating costs and a better quality of life for tenants. In 2023, Neetish Sarda believes that there will be a significant rise in the focus on sustainability in the commercial real estate industry.
Tech Advancements and Proptech
Technology is revolutionizing the way we do business, and the commercial real estate industry is no exception. From building management systems to virtual tours, the use of technology and innovation in real estate is expected to continue growing in 2023. Proptech is also becoming more widely adopted, offering a range of solutions that streamline processes, improve efficiency, and provide valuable insights into the performance of properties.
Expansion to Secondary Markets
With prices continuing to rise in major metropolitan areas, many companies are looking for more affordable and accessible locations. As a result, we can expect to see increased investment in secondary markets in 2023. These markets offer lower costs, a growing talent pool, and a supportive business environment, making them an attractive option for businesses looking to expand.
Neetish Sarda believes that there is a dramatic change coming in commercial real estate in 2023. As a leading workspace platform, Smartworks is offering tech-enabled workspaces tailored to the evolving needs of employees and enterprises. Neetish Sarda believes that after the pandemic we should be more open to the sudden shifts in the real estate industry and should be open to flexible options and take a step back from traditional options.
In conclusion, 2023 promises to bring exciting changes and trends to the commercial real estate industry. From increased demand for logistics and industrial properties to the growth of co-working spaces and a focus on sustainability, these trends are shaping the future of the industry. Stay ahead of the curve by staying informed and exploring new opportunities in the commercial real estate market.