Every industry has changed since covid took over the world. The real estate industry is no different. There are so many changes that it’s hard to keep track of them all. Here are the top changes we expect to happen.
Change in property preferences
Property preferences for individuals are changing right now. Demand for single-family homes, separated properties, and industrial properties is on the rise. People are now wary of close contact with strangers.
When everyone works from home, work from home has to be as comfortable as possible. Home offices and larger properties are becoming popular. Backyards and gardens are also at the forefront of people’s minds.
The importance of safe properties
Ever since the pandemic started, the importance of sanitized properties has risen sharply. Increased focus on sanitation means better sanitization technologies and cleaner buildings in the future.
Home Ownership
The safety and privacy offered by owning a home cannot be understated. The security in ownership as opposed to renting is something more and more people are considering. They’re also increasingly choosing suburban properties away from the crowds of the cities.
Going digital
Everything from property tours, to paying to applications will be going digital. With covid, lockdowns, as well as international property purchases, virtual real estate tours are becoming the norm.
Virtual reality too will be used in the future to get a detailed perspective of a property even if you are in a different country.
An increase in online shopping also means that close access to shops is no longer that to important people. Everything from groceries to luxury goods can be delivered online now.
Distance no longer matters
Employers were shocked by the efficiency of work from home. Experts predict that remote working is here to stay. As such, commute distance will no longer be as important a factor to property purchasers.
Plus, more distance from the cities means more affordability. People can also afford larger properties now than they would have initially considered.
The real estate industry is changing rapidly and if you’re interested in staying ahead of the trends, you’ll need a trusted expert to assist you. Call us now for a consultation on the right property for you!
