5 Current Trends Impacting The Real Estate Development Industry
This is a year like no other and this pandemic is going to change the face of so many industries across the globe. One such area that we are going to look into today is real estate and in particular the trends which we can expect to see take place in this year and beyond. To help us identify those trends we caught up with Sydney developer Roy Spagnolo, and were able to gain some vital insights into what we can expect in terms of real estate development.
As has been the case we can expect to see a further push towards a more eco-friendly way to construct properties. Initially once we saw this happen in the mainstream industry it was in relation to materials that were used in the building process. Now however we are focusing on the nature of the build and the machinery used, as well as the miles which materials and resources have to travel to arrive on site.
Inner City Hybrid Properties
Something else which we can expect to continue to see are the hybrid development which take place inside cities. There is a bigger shift to shared working spaces which has negated the need for as much office space as we once had. The result of this will be commercial developments such as retail and leisure facilities, with livable space within them.
Tiny House Movement
The tiny house movement has really gathered pace in the last few years and given the impending recession which we look likely to see, more tiny houses will be the solution for so many. People are waking up to the fact that they just don’t need as much stuff as they once thought that they did. We can therefore expect to see many more real estate developers look to double down on the number of tiny houses which they are constructing, which can be created fast and which will have a high demand.
Community Oriented Developments
There has been a stronger emphasis than ever before on the creation of communities rather than just housing. We are seeing more and more of these projects take place which look to help homeowners to have everything that they need within this purpose built community. This will continue in 2020 and beyond.
Hipsturbia is a word which is being attributed to trend of affluent young professionals who have shunned the bright lights of the city and created their own small communities in the suburbs. These are becoming more and more common and they have attracted the attention of construction companies. The idea of these developments is to offer the young professional a property near the amenities that they love, and the construction of those amenities too. As prices rise in the city more and more run to the suburbs and create their own environments, now developers will be looking to do that for them.
What more trends do you see for the coming months and years?