Top 4 Advice for Good Property Development in the New Normal

Successful-Real-Estate-Development

These days, property developers require new ways to make sure that their ventures are fruitful. Here are 4 tricks that will assist you in staying in the game.

  1. Design while bearing in mind the end user

Since the coronavirus spread, there has been a shift in what we view as essential amenities. Sure, pools, gyms and similar amenities will stay on many wish lists, there is still a drop that’s evident in their popularity, due to ongoing safety worries, even with talks of a vaccine. What will be people be asking for instead of the mentioned perks? Well, naturally, they will be looking for the things that offer security and comfort.

One thing that people are asking for a lot these days is automated parking, which lets for a no-hand experience if you’re a driver. Roof decks, terraces and similar outdoor amenities in residential buildings are highly demanded, too, particularity in bigger cities where people are looking for additional open spaces in order to be able to dive into activities like yoga, barbequing, spending time with kids and just hanging out outside without worries.

  1. Be adamant about air quality

Air quality is now a highly important factor for potential occupiers and purchasers, especially since the coronavirus spread happened and airborne respiratory diseases pose a threat. Thus, building owners are installing HVAC to make sure there is good circulation of air and proper security.

Such filters are costly, but they do offer additional protection. The bare minimum would be for buildings to have a MERV of 13. Though this is not enough protection, MERV-13 filters do assist in getting rid of the virus from circulated air. It’s also a significant thing to focus on tracking the state of the filters and replacing them regularly to make sure they work properly.

  1. Technology is the main drive

Technology is still a highly-asked for amenity. This goes especially for the older Gen Z people who are almost 24 years of age. Over 60 percent of those from this generation who are renting said that tech is significantly important for their community and their place. Naturally, high-speed internet was seen as the most important one.

Tech is also being utilized in buildings in order for them to be safer, and in order for expenses to be lower, as well as the total experience to be better. Better lifts are also a method of improving security in multi-family buildings, transferring occupants to their destination faster and making less stops, thus lowering commuting times.

  1. Keep this eco-friendly

In the short term, eco-friendly living was not the priority for some folks, but eco-friendly buildings will be getting more popular after the pandemic ends. Gen Z is especially targeting such buildings and amenities, which is seen from the fact that they are seeking energy-saving appliances more than extra bedrooms.

A growing number of people want to be knowledgeable about what their buildings are made of and if the constructions strategies were sustainable. This isn’t just important to them because of their health, but also because of the environment. yes, such materials are frequently more costly for installation, but people are ready to cash out for them and feel better overall.

This is the time for developers to adapt to the new normal and offer people the features and services that make sure purchasers and tenants of all generations will want to reside in their buildings for a longer period of time.