The Developer industry is expanding. After experiencing several structural reforms and advents in the past few years, the sector is likely to experience growth this year, in 2020. According to a report published by Colliers, a global property consultant, the investment in the real estate sector will rise by 5% to $6.5 billion. The report by Colliers also indicates that in 2019 the industry attracted $6.2 billion investment, around 8.7% more than in 2018. Along with this growth and further expansion, the real estate industry can change in the following ways.
Fourth Industrial Revolution, A Turning Point: Various technological innovations are beginning to play a transformative role in real estate and its ancillary sectors. Technologies marking the onset of the fourth industrial revolution, including Artificial Intelligence, The Internet of Things, Machine Learning, Robotics and Cognitive Automation can transform the Developer industry. With the help of these new technologies, Developers will make green buildings. It will also open opportunities for effective planning in the construction of developer projects like designing leaner structures of better quality and optimized expense.
More Foreign Investment: The age of transparency in Developer sector and new policies, facilitating ease of doing business is attracting more foreign investments. 2020 is likely to invite more immigrant investment in the Developer industry. This projection of expansion is seeming favorable for residential and commercial projects.
Turning to Eco-friendly Housing: The demand for eco-friendly and green buildings will increase. The future of the Developer sector will be eco-friendly construction. Developers will need to work towards making eco-friendly housing with sustainable structure concepts, good air quality, spacious homes, optimum management of natural resources and waste management. To protect the environment, developers must embrace and integrate such sustainable solutions in residential and commercial buildings.
Growth of number of Buyers: With such transparency coming into effect, the number of flat buyers will increase. There will be more customers wanting to investing in Developer sector for own-use. The focus on reasonable housing will further help this section of investors. Affordable housing will be a crucial driver in the real estate market providing opportunities for investors and Developers.
Reformulating the concept of Luxury Housing: The traditional concept of luxury housing will encounter a major change. Developers will have to offer a more holistic and elevated living experience to home dwellers. Comfort will be defined with smart home features, green and open space and spacious home designs.
5 Key Expectations from the Developer Sector in the Next 10 Years
- The flat buying market is likely to become the opposite. Thereby, you can expect a rapid growth in demand for small and outrageously large flats.
- The work at home trends will increase so the demand for flats near job-locations will decrease.
- There will be a rapid increase in demand for rental flats.
- Low investments will also come in effect.
- There will be more use of advanced technology in apartment construction and project completions will speed-up.
