Property Market Trends in 2022
If 2020 wasn’t already a challenging year to look back on 2022 has definitely been its own rollercoaster, with so many things going on globally, it is a struggle to keep up with the daily updates, changes in legislation and general market trends.
However, it is not all doom and gloom – with sustainability and environmental factors now being pushed higher up on the priority list, things are starting to change to give a more holistic view on things that really do matter in the long run.
Changing the way, we rent, live and work
Build to rent & rent to rent
Build to rent is the newest sector in property to get its 5 minutes of fame. All over major cities, there are developments going up like no tomorrow to try and accommodate the demand and need for housing in areas with continually expanding population numbers.
This in combination with changing habits around lifestyle and working patterns has meant more of the rent-to-rent developments are incorporating workspaces, health and wellbeing services and entertainment facilities.
All of this makes sense as the pandemic has changed habits around buying a property with considerably more people now renting for longer due to the current economic outlook and recent inflation rises have left many staying put.
The change in habits has meant lifestyle choices have become even more important – hence the drive for rented developments to offer services such as gyms and workspace in central locations meaning you get the buzz and connections whilst having everything you need under one roof – at a price that reflects the services and convenience on offer.
With new developments comes the aim to provide sustainability, with more regulation around energy performance and net zero targets. The focus has changed from a heavily focused economic one to a more sustainable and long-term view around how we make sure the environment we are creating is one that benefits generations to come, not at their cost.
Hybrid working has allowed for many of these models and plans to come into the spotlight as employers now more than ever are looking to review working patterns and practices, promoting a results-based working culture – essentially, working in a way and in an environment that allows for the best results possible. The 9-5 model has become unshackled and is going through its own evolution which is bringing welcome change to industries all around, property being one that is seeing the effects more than ever before.
Online Property Management
Proptech has seen its own impact with now more than ever businesses striving for efficiency and streamlined processes with the growth in popularity of management systems across the property management space.
Lofti has seen an influx of businesses looking to work towards a more agile business setup, striving for environmental targets and now more than ever reduced paperwork and admin, putting time back into tasks that will improve sustainable business growth and service levels for all connected in the network of property, including tenants, landlords, agents and contractors.