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The commercial real estate industry is navigating changing dynamics with the rise of flexible office spaces and hybrid working environments. Landlords and operators looking to capitalise on these changes, must invest in technology that enables them to optimise the user experience and reduce time to value.
The eBook will cover the decision flow of commercial landlords and multi-site flexible office providers when investing in a new technology solution for their business portfolio with common use cases:
The Colliers Quarterly Reports for Q1 2022 reported that market uncertainties delay decision making and curtail transaction volume ahead of expected H2 recovery. Total investment volume slowed down along with the more stringent social-distancing rules in place since late January. Looking ahead, Colliers expects the investment market to remain slow in Q2 but believes market momentum and activities will likely improve in H2 2022. Office space demand weakened in Q1 2022, largely due to inspection activities being held up, resulted in the overall vacancy rate climbed slightly to 10.9% in the quarter.
Read MoreBernie Devine, Senior Regional Director, Yardi
“If I can track my pizza on my phone, why can’t I expect a fast and frictionless rental experience?”
This question – or various iterations of it –is being asked by an entirely new generation of renters who have very different expectations of customer service than their parents once did.
In an era of instant information, where ecommerce allows us to shop from anywhere and anytime, renters no longer want to spend their Saturdays pounding the pavement or filling in dozens of rental application forms. They don’t expect to deal with real estate agents and property managers that operate in an analog world. And they don’t understand why paying their biggest monthly expense – their rent – is not a positive and personalised interaction.
Whether virtual tours or AI-enabled customer service bots, technology can make the process of renting better. Despite rapid advances in real estate technology, many property companies operate in an analog world; and that means from the start the discovery process to the day they move out, the renter is beset by pain points.
Read MoreWithin the office sector, occupiers can focus on higher-quality assets that possess green and sustainable features and establish a roadmap to adopt an ESG agenda from green buildings to energy audits, to green leases. Meanwhile, landlords can invest in smart and green buildings, including retrofitting older stock and prepare for new ESG requirements by embedding sustainability into every stage of the building life cycle. In the industrial and logistics sector, a paramount trend to watch is the sharper focus on ESG criteria, evident from 67% of occupiers believing that green or sustainability features will be more prominent in logistics facilities in the future in CBRE’s 2021 APAC Logistics Occupier Survey.
This report was originally published in https://apacresearch.cbre.
