COVID AS CATALYST - MARTIN HESSE
While I wouldn’t wish another 2020 on my worst enemy, there have been some positive aspects to the pandemic. Commentators in various fields refer to how the lockdowns acted as a catalyst in accelerating trends, largely driven by technology, that had begun well before Covid-19. Two in particular come to mind: the shift to e-commerce and the work-from-home phenomenon.
These shifts precipitated fundamental change in the commercial and residential property markets, although other factors, such as the lowering of interest rates, also played a role.
The commercial property sector – particularly office and retail space – suffered a huge knock and is now searching for ways to reinvent itself. On the other hand, residential property in sought after areas boomed once the restrictions on estate agents were eased. Alan Duggan explores these trends in his thoroughly researched article on page 17.
