Top Trends Shaping the Real Estate Market - Nick Statman
As per Nick Statman, the market of real estate is evolving continuously. Several trends in recent years, have emerged into this field and reshaped the landscape.
If you're that person who has a keen interest in the Real estate business or has no idea what this actually is then this article is for you. Real estate means the property that consists of land and buildings on it, along with natural resources. As per Nick Statman, the market of real estate is evolving continuously. Several trends in recent years, have emerged into this field and reshaped the landscape. Here are some top trends that are shaping this industry today.
Sustainability and Green Building
Developers and buyers are focusing on sustainability because this tiny thing has become a crucial consideration in today's generation. Developers have to keep in mind our nature, that's why they are more concerned with eco-friendly buildings which can minimize the impact on the environment. To keep the environment safe, energy-sufficient supplies like sustainable materials and solar power are in very high demand.
Virtual Reality Tours
In today's generation, according to Nicholas Statman, the usage of virtual reality (VR) has the power to change the market of the estate industry drastically. Actually the rise of the VR trend happens after the pandemic, which accelerates this trend to very far. The benefit of having a VR is that it can show you the property in the virtual world, but at the same time, it won't feel like it's not real. This brings an alternative option to resort to the property's live showing. This practice allows for demonstrating its potential in the near future.
Urbanization and Smart Cities
In the development of the real estate industry, nowadays, Cities are becoming denser and gaining traction, according to the research of Nick Statman. So, many developers have an interest in urban localities in metropolitan areas. The developers are actually trying to bring facilities like integration of technologies and want to improve the quality of life in urban areas. Unlike urban areas, smart cities have been growing immensely due to their excellent connectivity. This trend is actually a remark of emerging markets where urbanization is rapid.
Affordable Housing and Co-Living Spaces
As the demand for real estate increases day by day, there's also demand for affordable housing all over the world. The developers and Government are trying their best to create affordable house options even through public-private partnerships. Co-living spaces are also increasing their hype among you generation over traditional home ownership because these spaces are more flexible and more affordable than renting an apartment.
Remote Work and Shift to Suburbs
After hitting of the pandemic, people have grown their interest in remote work, which has led a significant change in the real estate industry. This trend actually demands a larger home with office space. Properties like these offer a better quality and improve the way of living.
Conclusion
Real estate is not a word anymore, it's beyond the way of living. As per Nick Statman real estate market will change the meaning of sustainability with a significant result. This could shape your lifestyle in a better way. As the trend evolves, this will also give shape to the real estate future, because it has the power to influence everything. Whether you're a buyer or investor, gaining knowledge about all these trends is a crucial part of the dynamic of real estate.