The great cities won’t die

Reports and theories about cities “dying” are greatly exaggerated.

The novelty and convenience of working from home should wear off and if you are ‘institutionalised’, commercial reality and economic necessity will prevail.

Falling rents, a social yearning amongst those in their 20’s and 30’s and the fact that innovation or progress tends to be more successful in an environment of physical collegiality…….are some of the reasons which will bring people back to the office.

Although some regional centres and cities may prosper, it’s difficult to believe that great cities such as New York and London won’t bounce back.

The investment opportunities will then be in the re-valued property sector and the ancillary commercial real estate services such as Jones Lang LaSalle and OTIS Worldwide.

September 28, 2020

By Rob Zdravevski

rob@karriasset.com.au