Updated: Jun 26, 2020
Buyers will up-size
Microapartments were supposed to be the future trend, but dwellers who have been cooped up in one or two rooms will likely be looking to spread out.
Outdoor space & home office will become a hot commodity
This is related to previous point, Balconies, terraces and private roof decks are already prized amenities for any prospective buyer, but they will become even more in demand in the coming months.
Home office space will also become a more standard offering. Projects in the planning stages and developers will reconsider layouts to accommodate tenants working from home.
Boutique buildings & community
Boutique buildings will win out over large developments and community developments will become more prized.
For example, not sharing an elevator with many people, exclusive gym access, or private outdoor space with few tenants.
The related job losses are expected to decrease rents. However, along with potentially stricter home buying standards from lenders, the city housing stock will tend more toward rental than ownership therefore increasing demand.
Technology will win
The adoption of touchless technology (IOT), including remote access for locks and thermostats will see a rise-up.
The one constant
The one constant through it all is property! People will always need somewhere to live whether it be rent, buy or invest and this is why real estate companies and agencies who evolve will come out stronger with the right business plan and the ability to change with the times.