Reading the stats: How demographics will drive real estate investment after COVID-19
COVID-19 is shaping up to be one of those defining moments that is likely to change the behaviour of future generations. While it is too early to predict whether we will be referring specifically to the “COVID-19 generation” in the coming years, the ramifications of the pandemic on our lives and work will be felt across all demographic cohorts.
In a matter of weeks, our daily routines have been transformed as office-based employment moved online, schooling became virtual and online shopping permeated deeper audiences than ever before. Many of these shifts were already under way, but the introduction of lockdowns and social distancing has enforced them on a much larger proportion of the population. The way we use real estate is likely to be transformed.
The new office
Prior to novel coronavirus, the concentration of high-calibre millennials and Generation Z talent in dynamic cities supported a story of perpetual demand for prime office stock.