Well, the question seems very legit in the scenario since the office work in India is at a halt since the onset of the pandemic last year. With the coronavirus infection threat looming large, the whole world went into a standstill mode with all the office work being shifted to the work-from-home format as much as possible. All of a sudden the requirement of the office spaces for the companies went nearly to nil. It would be a lie if we say that commercial real estate didn’t face its blow because it had. However, after about a year, it has been reported that commercial real estate is coming out of the downtime in a much better way than the residential real estate sector.
Let’s check out some of the points why this is the best time to invest in commercial real estate.
- The price of real estate is going low now. If you are considering an investment in real estate, this is the best time to get some really good deals. Also, it has been reported that commercial real estate is recovering from the covid impact much faster than residential real estate. Therefore, if it is about investment, commercial real estate is the one to go for now.
- The requirement for commercial spaces is only going to increase in the future. It will be actually the opposite of what has been assumed that pandemics will slash off the office work culture in totality. Since lockdown, there have been about 16000 new businesses that have been registered in India. More companies, more the requirement of commercial spaces. Even if companies downsize their office space requirement, it is absolutely unlikely that they will totally go off with any physical space.
- With various foreign companies looking to start their business operations in India, they will need large office space, which will increase demand for commercial real estate in the coming years.
- Commercial real estate always yields more rental value than residential real estate.
Are you looking to invest in commercial real estate? Do share with us your take on the future of the commercial real estate.
FAQ’s About “Is real estate a good career option in 2021?”
Real estate sales are no doubt a lucrative career option especially if you’re living in the metro and major cities in India. Whether you work as an agent and a salesperson for a business there is the scope of earning a good income in both and both have their own pros and cons. However, one thing that should be noted here is commercial real estate agents tend to earn more than residential real estate agents. Commercial real estate agents deal with the buy, sell and rent of properties to be used for commercial purposes. Commercial Real Estate includes all aspects of sales, leasing, management, investment in or improvement of retail property, investment property, farmland, businesses, industries, medical facilities and dozens of other types of property. Commercial real estate agents and brokers work with individuals, investors, organizations, and corporations to develop the property to its highest potential. Their careers include many specializations. Some commercial associates specialize in particular types of property, such as office property, developable farmland or even amusement parks.