Real estate in 2021: Upcoming trends and key changes

 

The year 2020 has really changed many aspects of life. In the real estate industry, the pandemic has shifted focus on health, safety, and equality. Real estate professional Eugene Bernshtam shares what's in store for the sector in 2021. 

Image source: Unsplash.com

The search for properties in lower density areas

Many are looking for homes in less-crowded areas when it comes to residential real estate. The pandemic has led people to consider moving to places where there are fewer crowds, closer to nature, and accessible to schools, shopping areas, offices, and hospitals. In the US, many people are showing interest in properties in the Sunbelt markets. Experts are also seeing businesses such as startups and other tech companies moving to these cities. 



Image source: Unsplash.com 


Lower prices in big cities 

Many families are moving away from big cities in favor of a suburban lifestyle. Now that many companies are transitioning to a work-from-home setup, professionals no longer need to move to the city to be closer to their workplace. According to Eugene Bernshtam, this has led to a price decrease in places that used to be crowded areas in the country.

Developing minority and low-income neighborhoods

Now that individuals and businesses are becoming more aware of race and society issues, those in the real estate industry are doing their best to invest in minority and low-income neighborhoods to ensure the safety and quality of living for many citizens. As many companies are boosting job opportunities to increase diversity, there will be a need for better housing and commercial spaces.

Eugene Bernshtam is working in commercial real estate investment and development firm Avalon Holdings, LLC and its affiliated entities. His company specializes in apartment buildings and mixed-use properties. Investment, development, management, repositioning underperforming real estate assets, and consulting services are the company’s overall focus. Visit this page for more real estate updates.

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