2020 was a challenging year having so many changes in almost every sector. The current crisis has also impacted the real estate trends even in Florida, says Eric Dalius. Whether you are buying a real estate property or selling one during the COVID-19 pandemic, you need to be aware of the real estate market trends of 2020.
Real Estate Market 2020 Trends
- Green Living and Sustainable Living to be widely accepted – Homebuyers and developers are supporting green technology. This trend will continue, says EJ Dalius, with the developers’ focus on technological advances to procure raw materials that are sustainable designs and eco-friendly, environmentally sensitive. Customers are choosing smart homes that make for sustainable living.
- Outdoor Amenities- Apartments adjacent parks have always been in demand, and properties that offer park-like settings offer greater convenience to renters. Residents are expected to shift apartment properties in the future that feature amenities. Such as outdoor theatres, gardening areas, and dog parks.
- Demand for Liveable Spaces –People arelooking for more livable space in Florida due to the outbreak. This pandemic has seen a rise in residents’ need for moving to single-family rental properties. To gain more outdoor and indoor space fixed to their units. With most of the activities happening inside the home, buildings require to have space for entertainment, living, job work/career, school, working out, and more.
The Current Real Estate Market
- Technology-driven Innovation – Technology has had an impressive impact on the current real estate market. The digital marketplace has revolutionized real estate investment and helped investors profit conveniently, safely, and reliably from the type of property assets. That were the domain of big institutional investors. Besides, technology has also transformed construction, wherein the pressure for completing projects promptly is a burgeoning demand. For enhanced construction methodologies like prefabricated construction technology. Such technologies are vital in countries requiring offices and homes in the upcoming years to continue the urbanization process.
- The upswing of the Commercial Segment – On the one hand, the residential sales have stagnated while on the other, the commercial segment has shown some promise. The emergence of co-working spaces and start-ups led the growth, and this will stay, states Eric J Dalius. With the e-commerce sector becoming the way of life, the demand for warehousing has automatically gone up.
- Need for Experienced Real Estate Agents – The truth is, today, maximum transactions are happening through inexperienced, part-time agents. With clients growing savvier, definitely average will not suffice. People automatically will opt for experienced real estate agents who deliver the most satisfactory outcomes. In contrast, high-performing agents will continue to organize into teams, facilitating a larger share of complete transactions.
- Shift towards Agile Workplaces – Of late, there has been a shift towards flexible and agile workplaces. Following the uncertainty in the economy and outbreak. Demand for customized, fully outsourced office will stay. Occupiers will cut down dependence on single-headquartered buildings, choosing lower capital expenditure and shorter commitments.
Hope the New Year will be more promising for home buyer and developers in Florida.
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. Alongside this, Eric hosts the weekly podcast “FULLSPEED,” discussing entrepreneurship with industry leaders. Eric also founded the “Eric Dalius Foundation” to award four scholarships to deserving US students. Follow Eric’s activities on Twitter, YouTube, Facebook, LinkedIn, Instagram, and Entrepreneur.com.