Pandemic’s CURRENT impact on the Toronto Commercial Office Market (From March 2020 to November 2020)
While the housing market has remained mostly stable in the GTA, the issues are more focused on how the office market has changed. Office space will shift to remote working from home. Will this mean that space usage intensity will drop since remote work will be permanent? Will the commercial office market collapse? What strategic repositioning of office property should the Planners and EDPs consider as policies? This group will undertake an evaluation of the office real estate market and how it has evolved/grown over the past decade and what the future holds as a result of COVID-19. Please just write the current impact that Covid-19 bring to commercial office market and relate these with economic development. Also, use some data from CBRE.
Suggested readings
https://www.camoinassociates.com/covid-impacts-real-estate-markets-good-bad-and-ugly?utm_source=Economic+Development+Navigator&utm_campaign=a465886b9d-Navigator_9_2020&utm_medium=email&utm_term=0_772c38cc03-a465886b9d-203328069&ct=t(Navigator_9_2020)&mc_cid=a465886b9d&mc_eid=884695591c
https://www.mckinsey.com/business-functions/organization/our-insights/reimagining-the-office-and-work-life-after-covid-19
https://www.wsp.com/en-GL/insights/how-will-covid-19-change-demand-for-office-space
https://www.naiop.org/en/Research-and-Publications/Magazine/2020/Summer-2020/Business-Trends/Experts-Speak-on-COVID19s-Impact-on-Commercial-Real-Estate
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