This year has witnessed new trends in the way consumers approach buying real estate. The sudden onset of unexpected developments has made many homebuyers take extra precautions and demand greater value from the property including amenities, connectivity, and social infrastructure. Overall, this is an opportune time to buy a home.
Here are new real estate buying trends that arose in 2020.
Greater Demand for Virtual Walkthroughs & Property Searching
Since mobility and face-to-face interactions will be limited for the foreseeable future, home buyers are increasingly searching for properties online. Developers will offer more virtual 3D walkthroughs and full documentation on their websites for greater transparency. There are many online portals and advisory forums that will help consumers make an informed decision.
Greater Demand for Safety & Security
Consumers are increasingly choosing homes that provide 24/7 monitoring and surveillance, combined with stringent checks on non-residents at all access points of the premises. They are preferring projects with home automation systems and trained security guards who patrol the grounds round the clock.
Greater Demand for Homes with WFH & Smart Home Capabilities
As remote working becomes the norm, consumers are opting for well-equipped projects with dedicated home offices including 24-hour uninterrupted power and smart connectivity. Consumers will seek projects with home automation systems using voice, smartphone and physical commands. Developers are integrating smart automation systems for added convenience and comfort.
Greater Demand for Projects with Added Value & Amenities
Comfort and convenience are high priorities for homebuyers. The availability of modern, world-class amenities adds great value to the worth of the property, which will benefit the daily lifestyle of residents as well as their long-term investment returns. These projects are designed to provide an enhanced lifestyle for residents. Reputable developers make sure to offer facilities including club houses, fitness centres, swimming pools, spas, playgrounds and sports facilities, as well as on-site supermarkets and pharmacies for added convenience and comfort.
Greater Demand for Natural Surroundings & Open Spaces
Consumers are preferring homes with an abundance of natural surroundings and open spaces. Consumers are choosing projects with expansive greenery and water bodies. These projects must seamlessly fit into its surrounding area and be optimised for maximum natural lighting and fresh air.
Greater Demand for Green Construction
Energy-efficient and eco-friendly homes are gaining popularity since they prioritize resident welfare. Homes with reduced water and energy consumption, enhanced air quality, use of natural lighting, and decreased CO2 emissions have a significant impact on overall health and well-being. As home buyers shift their focus towards environmental responsibility, the availability of green amenities is on the rise including solar panels, rainwater harvesting, waste management and high-efficiency lighting.
Greater Demand for Integrated Townships
Integrated townships offer residents the option of living in a highly organised real estate development which provides a holistic mix of housing with modern amenities, green open spaces and connectivity to commercial centres that can exist regardless of how rampant urbanization impacts the rest of the city. Because of all the benefits townships offer in terms of providing a serene haven from the bustling city, the integrated township model is a fast-growing segment in 2020.