2021 Is Almost Behind Us! What Can We Expect In 2022?
2021 Is Almost Behind Us! What Can We Expect In 2022?
2021 is almost behind us. At Adivo Construction we feel very happy and privileged to serve as a trusted self-performing national general contractor to all of our clients by offering them best value for money one-stop shop solutions.
We are very happy to highlight 2021 one of the most prosperous years for us and our clients and look forward to building many more business relationships and successful projects in 2022!
Moving forward we see positive developments for real estate investors and rewarding opportunities for future investments in repositioning and renovation projects in 2022.
The 2021 U.S. Multifamily Investment Outlook states that many people prioritized space and privacy after experiencing quarantine. Tenants are looking for apartments that offer the most space for their money and amenities that enable them to enjoy both living and working from home.
Multifamily amenities are rapidly growing in popularity, and technology and lifestyle are the main driving forces of new amenities. It is up to the real estate investors to take advantage of these shifting customer preferences that represent immense investment opportunities.
Key upcoming trends for 2022:
Rising demand for multifamily housing
The real estate market proved its strength during the Covid-19 pandemic.
The 45 million millennials dominate the rental market with their desire for more flexibility that comes with renting over buying a property combined with growing number of baby boomers that are going for convenience and downsizing. Considering the market trends, growing number of job opportunities for work from home and shifting customer preferences, it does not come to a surprise that the demand for multifamily housing is outperforming and will likely continue to do so in 2022.
Technology plays an important role in our lives. It keeps us connected, it makes our lives easier and our work more productive. Today, it is not only very difficult to imagine our lives without the technology we use every day, but more and more people expect to see the implementation of technological solutions in their apartments, houses and communities.
Property technology provides residents with security and convenience with contactless solutions or right from their smartphone.
Key amenities relating to technology that residents would expect from 2022 will be contactless entry cards, delivery services with dedicated delivery rooms and automated notifications to their smartphones when packages arrive, property management software that will make their rent payments, reservation of property amenities and maintenance requests more convenient as well as implementation of IP video intercoms as a visitor management solution that will enable them to visually confirm the identity of their visitors.
Virtual property tours
Virtual tours have been on the rise in recent years, but the pandemic accelerated their implementation as a growing preference by renters and buyers on the market. These solutions allow prospective residents to find new rentals effortlessly from the comfort of their own home and will likely continue to grow in popularity in the future.
Growth in less dense areas
The mass transition to working from home caused many renters to migrate to the suburbs or smaller cities, searching for less densely populated communities. Moreover, this transition is accelerated by growing number of major companies that are expanding their operations away from highly priced areas.
Renters today desire the space, affordability, and access to fresh air that less densely populated areas often provide, but with a solid level of entertainment and convenience they have experienced in larger cities.
Higher Customer Experience Standards
As residents and tenants started using online platforms, they start expecting a similar delightful customer experience from the places where they work and live. Real estate investors that will deliver on those expectations will be able to build a strong competitive advantage in this process. Multifamily and commercial real estate are increasingly becoming customer-centric businesses based on innovation and technology that will deliver distinctive client experiences will play a pivotal role. It is up to the real estate investors to position their properties accordingly and reap the rewards from this transition.
Ready to start your next investment project?
Please contact us to learn how we can best help you to turn your next investment project into a success.
Email: [email protected]
Telephone: (954) 570-0300
Address: 850 SE 7th Street, Deerfield Beach FL 33441
About Adivo Construction
We are a national general contractor with over 50 years of combined construction expertise specializing in the value-add improvements of apartment communities.
Our mission is to assist our clients in finding the right balance between capital expenditure and appreciation potential by designing and executing customized renovation programs that are focused on increasing cash flow return and overall return on investment.
We have completed over 100 repositioning projects for publicly traded and privately held domestic and foreign companies in states such as Florida, Texas, Kentucky, Oklahoma, Georgia, South Carolina, Utah, North Carolina, Tennessee, Indiana, Michigan, Missouri, Arkansas, Ohio, Arizona, Nebraska, and Kansas.