The growing openness of companies to work-from-home set-ups, increasing number of freelancers, and current global economic situation have driven many to opt to work in permanently remote positions.
To guide property sellers in the new demands of rental seekers, online property portal Lamudi weighs in on three major trends in the real estate rental market in the time of COVID-19: On-site housing, remote work, and transit-oriented spaces.
To keep employees safe and minimize the need for travel, many companies provided on-site staff housing or availed of large residential spaces nearby for employees, as well as shuttle services to and from the plant to designated pick up or drop off locations.
The rise of online learning and remote work open up new rental markets and opportunities to create value in local economies still recovering from the impacted travel industry. To summarize, Lamudi’s key insights:
According to Lamudi, mid-rise condos, houses with multiple bedrooms, and other types of private residential housing present attractive options for companies in search of staff housing or on-site housing near their office.
Freelancers and remote workers are looking for long-stay accommodations outside the metro. Those with vacation rentals can pivot to meet that demand by adding work-from-home essentials such as high speed internet as well as providing assistance with travel requirements, it added.
Lamudi advises: As many renters returning to work in the metro will still be searching for properties from the security of their home province before considering the move, brokers must be present online to cater to rental inquiries.
“With offices more open to different working styles, the city will experience new schedules of worker-travelers – some alternating between the home and the office on a bi-weekly basis, others making the move across regional borders, and many choosing temporary homes in areas slated to benefit from nearly-finished infrastructure projects. The way workers work is changing, and so is the way they live,” Lamudi concludes.
