With 20 years of expertise as a real estate developer, Eric Swallow is an accomplished business and advertising professional. Eric Swallow has an extensive portfolio of real estate holdings and is very up to date with the latest real estate trends.
According to the Emerging Trends in Real Estate 2021 report published at PwC.com, several evolving trends have shaped the real estate industry in 2021. One of the trends highlighted by the report is an accelerated exodus to the suburbs, especially in the Sunbelt cities. The main reason for this exodus is health and safety. Since the advent of COVID-19, people have been searching for more space and lower-density environments.
With the rise in popularity of remote work, and data stating that 94 percent of real estate professionals believe that companies will allow employees to continue working remotely at least part-time, the report also sees an increase in office tenants looking to expand spaces to collaborate while staying compliant to social distancing. Additionally, the report highlights a trend in which a search for smaller physical retail presence and several amounts of vacant space with lower rents is expected to occur.
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