K.M. Minemier & Associates is a certified Woman Owned Small Business (WOSB) engaged in full service real estate asset management and marketing.

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The Effects of Remote Working on the Real Estate Market

January 08, 2021

Since the start of the pandemic, the number of people who work remotely has increased greatly. Prior to the virus, 4.7 million people were working entirely from home. Of the remaining workers, around 70% of them worked remotely at least one day a week. Studies showed that it allowed for lower overhead costs and an increase in productivity when people were working from home. Another benefit from working remotely is the increase in options for employees that expands globally. This increase in potential employees creates more competitive salaries and higher talent. Now, 88% of the world's businesses require or encourage remote work. The success that remote work has promoted shows how many companies are looking to permanently replace office jobs with remote work. This decision creates more investment opportunities which impacts the real estate industry. Many people choose to live in locations that have higher paying salaries, even though the cost of living is higher. Now with the pandemic and the option to work remotely, they can seek out alternate, lower priced locations while still having high paying salaries. This change will cause these previously sought out locations to decrease in price over time while also having an increase in relocation to vacation spots full time such as Wilmington, NC in the long term.


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