Making Property Design More Profitable
Today there is much higher interest in “lettability” amongst tenants. This means that property developers will need to take a number of different things into consideration when designing properties. The number of people renting space, whether to live or work, has been on the rise for the past few years and it’s not expected to stop. Furthermore, those looking for space want designs that are indicative of a lifestyle centered around wellness and social consciousness. For many property designers it’s become important to embrace this new way of thinking and cultivate an approach that focuses on sustainability entering the new year.
Here are a few trends in property design that are improving profitability.
This may be one of the most important trends that has emerged in recent years. In an ever increasing digital era people want to make personal connections in an otherwise impersonal world. By making projects with the feeling of authenticity in mind, places are built that make the residents or visitors feel welcomed, comfortable, and present. To increase profitability brainstorm creative ways to encourage people in the space to unplug and take part in what’s going on around them. Whether it’s an interactive design in a waiting room, a beautifully designed water fountain, or an inspiring, vibrant installation, designers can achieve authenticity by creating a balance between everyone’s artificial life and the one happening in front of them.
Sustainability is no longer an ambitious idea, but rather it has become the standard. To make a structure or building fit the “green” code there are several standards that must be met. By using low-waste systems and finding recyclable, renewable materials designs can embrace a more sustainable future, and increase profitability.
Using sustainable methods can be more costly during construction, however the market has seen that there are people willing to pay more for something that is built environmentally conscious. In some areas there are even tax incentives for those choosing to “go green”.
It’s also important that the strategy used by the design team does not compromise the health of the surrounding environment or it’s residents. People want to live healthier lives and create better futures for the next generation.
Property developers and investors should also consider the habits and behaviors of the public. Healthy living is becoming increasingly popular. While there are many people interested in a sustainable home, there is an equal amount of people that also want to work somewhere that is good for their health. Design professionals should consider creating spaces that encourage activity and connections. This can be in the form of stairwells with wall gardens or common areas with a spectacular view to bring people together. A property is more profitable when there is something that brings it to everyone’s attention.
A few more trends that have grown in popularity are mixed-use spaces. These centers can include condos, groceries, spas, and restaurants. Commercial real estate has seen these mixed-use spaces rising in popularity. Designing a mixed space or lifestyle center where an outdated mall or stip used to be can be incredibly profitable for property developers.
This article was originally published on Hiley's website.