The pandemic will have different effects on different types of commercial property

"The pandemic will have different effects on different types of commercial real estate," broker, trainer and author Ulvi Kocailik said, evaluating the real estate sector and making important statements:

"E-commerce usage rates have increased a lot due to the pandemic. E-commerce companies have reached the point where they will come in maybe 10 years in a year. We can say that this will affect the street and shopping mall stores. We can say that there will be a contraction around here or new models such as taking a share of the turnover instead of rent. On the retail side, we expect stores to decrease and e-commerce to increase. If e-commerce is increasing, the need for logistics and warehouses, another commercial property, will increase.

With the pandemic, companies and employees realized that it was also possible to work from home. Especially large companies, service sector firms with many employees have been working for several months on how many people can work from home and how many people can work from the office. At the end of this process, some of the staff will continue to work from home. This means that office space will shrink. Maybe 30-40% downsizing. This means that office gap rates will increase. Therefore, after March 2021, we will see very rapid relocation and downsizing operations in the office market. The sector that will be most affected will be the office market.

Early in the pandemic, the world understood that there was a supply chain based on a lot of China and began to make new plans for the new era. In order to reduce risk, they began to create new production areas, storage areas and new supply areas. Turkey is very lucky in this sense, because it has a very large production power. Therefore, in the coming period, we expect a growth in the industrial sector due to our proximity to Europe and our quality workforce.

When we look at the health sector, we see that there has been a lot of investment in this area in the last 10 years. With the pandemic, the whole world tested its health capacity. As Turkey, we have seen once again that our health capacity and doctors are very good. Therefore, we expect an increase in health tourism in the coming period.

The tourism industry is one of the most affected by the pandemic. Hotels remained empty, flights were grounded, but we think it will become more and more moving in the coming years as the deferred need after the pandemic begins to be met.

Therefore, after the pandemic in the commercial real estate market, we will observe different effects according to property types. We will see an increase in some of it while some of it decreases. There's always trading in commercial real estate. Economy growth means increased capacity, decreased means less capacity needs. Consultants working in commercial property need to follow the economy very closely. He should follow the economy closely and predict what will happen in the future and take action."

Endeksa.com And General Manager of The Index, Görkem Öğüt, said, "The Endeksa has recently launched its automatic value prediction service for shops and stores. Soon, the value estimate of commercial buildings such as workshops, warehouses, offices, plazas and shopping malls will be announced, and then fuel stations and hotels will come with value estimated by income method. In this sense, we aim to contribute to commercial real estate experts."