The COVID-19 pandemic—and its impact on businesses over the year ahead—is the leading concern among commercial real estate executives, according to The Counselors of Real Estate.
The Counselors, a commercial trade group for CRE designees, surveyed its members to identify current and emerging trends in the commercial sector for its annual list of issues affecting real estate for 2020–2021.
“The change wrought by the COVID-19 crisis and its aftermath will teach us about priorities, resilience, and demand in ways that we did not dare test before,” says Michel Couillard, 2020 global chair of The Counselors of Real Estate. “In examining real estate markets, we must consider existing fragility, adaptability to new demands, and potential relevance to new markets. Demand will be defined by the extent to which this crisis leads us to abandon old habits and adopt new ones. The duration of the lockdown has been a factor, and so is the confidence with which we emerge.”