Real estate development trends in 2021
The 2020 pandemic affected all spheres of life and business. Thus the real estate market also suffered from the conditions the pandemic caused. What has changed over this year? First of all experts say about the change in buyers habits and the new way they consider the projects offered by developers. Will this change the real estate market in 2021? Definitely.
New trends in the development of the real estate market under conditions of a new reality
Human behavior is the main thing that was affected by the pandemic, and it has already had a direct impact on the real estate industry. People spent more time at home. Consequently, their attitude to the space they live in has changed significantly. As a result, you can already predict what trends will be implemented in 2021.
Top-trend number one: increase in property value
A dollar’s expensiveness is well-known for Ukrainians and they are even quite used to living in such conditions. At the same time, each new round of the exchange rate brings to life two opposite tendencies. On the one hand a certain part of buyers decides to postpone large purchases for better times. On the other side, some people try to invest the hryvnia in some assets so that the risks of the exchange rate for them have become minimal.
Together with that, a significant percentage of the second part of buyers prefer not to leave funds on deposits, but to invest them into real estate acquisition. And this is logical, because the value of real reserve resources always rises if the value of real money falls. Since real estate is the main reserve resource, there are all prerequisites for the cost per square meter to go up. Investment demand in such conditions will also be warmed up.
At the same time, due to the fact that it became more difficult for developers to obtain a building permit (and this was led, in particular, by the State Architectural and Construction Inspection reform), the number of offers on the market is growing very slowly. As a result, prices rise faster than inflation. Real estate brokers and realtors predict that in a year or so a square meter at the primary market will cost 11-13% more.
Concept quality is more important than square meters
Buyers begin thinking differently about the quality of their home. They want to get not just an apartment to live in, but the most comfortable place, their own micro-society with like-minded people. As a result, 2021 promises to become a year of transition to more comfortable concept complexes that provide a variety of recreational opportunities. Thus, the new buildings will be appreciated according to the format of life in it.
Canadian writer and urbanist Charles Montgomery expresses the idea that in the future people should be able not only to live in complexes, but also to work and rest there as all these factors form the life of a happy person.
What does this actually mean for developers? That they should build playgrounds for children and sports grounds for adults, actively landscape the surrounding territory and lay the groundwork for the opening of fitness centers. It’s highly appreciated if there is a recreational area nearby as buyers are paying more and more attention to this fact.
Innovative technologies become mandatory
At one time an integrated approach to organizing a security system was considered an optional element, but now it has become a major one. Moreover, a restricted area is no longer the only criterion, a must-have list contains a variety of smart technologies for the building and apartment itself. That is, people prefer those complexes with the motion, flooding, opening windows detectors, and so on and so forth. If a person can keep track of his apartment condition on a smartphone online, he will acquire it almost without hesitation.
By the way, biometric recognition is a new trend. Fingerprint and face scanners are becoming an increasingly popular trend. Residents want to be sure that an outsider who does not have an access card and who has not been entered into the database will not be able to enter the house.
Also, many developers offer buyers the opportunity to watch what is happening in the local area, where CCTV cameras are installed. The picture is broadcast to the smartphone online.
Spectacular architecture matters
The modern consumer wants to live in a beautiful place and is ready to pay for it. Gray monolithic buildings provoke depression, while non-standard and interesting ones cheer up. Is it any wonder that the buyers always select for architecture? They want to come home and see a beautiful building. So developers also opt for interesting architectural solutions, ventilated facades and sustainable materials. And they are right! As all these factors will be much more important for buyers next year.
Thus, we can note several main trends that forward-thinking developers will bet on. That is the multifunctionality of the complex, the introduction of innovative security systems and environmentally friendly technologies. As a result, those who rely on the quality of the concept and service will be tall in the saddle.