Commercial Real Estate Market Trends in 2024

The booming industrial real estate market in India unboxes various opportunities for businesses. The COVID-19 pandemic impacted the industry severely as people were bound to work from home. However, in the post-Covid era, with the revival of the economy, the commercial space sectors also experienced steady growth. This article will explore various underlying opportunities for businesses in the industry by identifying key market trends. If you are keen to learn about the potential of the industry to offer your profitability an upward trajectory, continue reading the article. 

The Rebound of Work-From-Office Trend 

The year 2024 is the continuation of another year in the post-covid era. The covid-19 forced us to work from home. People needed help to sort out the best way to work. However, we accepted and adjusted to work from home. Challenges were there, and so was the comfort of working at your own pace and convenience. 

Going back to work from office culture was another inertia we had to overcome. We spent 2023 twisting between work-from-home and work-from-office norms. However, 2024 again pushes us to go back to pre-covid work norms while ensuring strict adherence to necessary safety norms.

The re-establishment of work-from-office culture will drive the demand for office spaces. The demand for commercial real estate spaces will sharply increase in 2024. Therefore, if you want to take advantage of this growing industry, you should buy the property before the price starts skyrocketing. Or else, you must invest in industrial parks in Kolkata to enhance your profitability and leverage the market potential. 

High Demand for Co-working Spaces

Freelancers, startups, and small teams will look out for the best co-working places in Kolkata. Co-working facilities allow employees to gather together in a community-driven environment where they can access food, electricity, internet, and all other required amenities. 

The leading commercial real estate service providers in Kolkata would extend co-working facilities to budding entrepreneurs. However, if you are looking for the best opportunities to invest in industrial parks or commercial real estate businesses, investing in co-working spaces will diversify your portfolio.

A Healthy and Safe Environment is A Must to Follow

The year 2024 has just begun. However, taking all the health and safety measures is going to be the key trend this year. Modern commercial real estates are equipped with health and safety provisions such as extended space, sanitized lifts, air purifier-equipped rooms, access to separate washrooms, clean infrastructure, and more.

If you are planning to own a space in an industrial parkin Kolkata, check the facilities and amenities available to ensure adequate health and safety measures. You should prefer spacious locations over congested passages. 

Choose commercial real estate with its own cleaning and safety staff. Deciding the best commercial space to buy in Kolkata based on only price may result in a high cost of maintenance. Therefore, look before you leap.

Hike in Property Rent

As the work-from-office culture sets in, the rental price of commercial spaces in Kolkata will increase in 2024. The more time passes, the higher the rent becomes. Therefore, grab the opportunity now available at an affordable price without emptying your pockets.

If you want to own the commercial space, you can access affordable loans from any private or public banks. You can also access affordable leasing facilities to lease the property for a certain period. 

Green leasing and flex leasing will be the two predominant leasing alternatives in 2024. Green leasing is applicable for sustainable and eco-friendly commercial real estate projects. Flex leasing, on the other hand, is appropriate for industrial parks in Kolkata, which offer collaborative, customizable, and flexible work environments.

The leading industrial parks in Kolkata are promoting and leveraging their distinctiveness by offering various industry-specific leasing and financial facilities for rent or ownership. You should not forgo this unique and profitable market opportunity to make your commercial space perfectly aligned with your business needs.

Conclusion 

The commercial real estate industry in India will experience high growth in the coming years. This trend will also remain prevalent in Kolkata, as many high-net-worth business people are investing in the city's manufacturing and service industries. Apart from Kolkata, Siliguri and other regions in West Bengal are also coming to the forefront in terms of business expansion and investment. Therefore, make the best choice for your business by investing in the growing industrial parks to ensure optimum scalability before the industry becomes highly competitive.