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How Real Estate Developers Can Increase the Value of a Residential Complex

At its offset, the COVID-19 pandemic disrupted home sales and renting across both the EU and the US. Nevertheless, only months later the markets made a remarkable recovery, despite initially grim forecasts. Demand from stay-at-home employees has definitely played a role, as has the fiscal and monetary stimulus aimed at keeping economies afloat.

Beyond economic efforts and resilience both at individual and governmental level, this proves that when it comes to living, people will stick to their plans. Their standards. Their dreams. And they should. Their home is no longer the place for off-work unwinding, it is so much more. Starting with their office. 

And it’s not just about sticking to plans. The pandemic has tickled the desire of many to move into a new home, be it rented or owned – but with a clear preference for the latter – in a chase for attaining the perfect safe space away from the apocalypse-like vibes out there. 

Source: https://lightersideofrealestate.com/articles/5-benefits-of-homeownership-that-people-often-forget-about 

Except it’s still difficult for tenants to impeccably balance their private and work lives, no matter how dreamy the property is. And it’s often dreamy. We’ve seen white-collar employees flock to houses in the country side, where they can take advantage of the generous space for a clearer divide between their professional and personal lives. The fact that they’re most isolated there has definitely also played in.

But we’ve also seen people move into the most modern residential complexes in urban areas. Some with generous indoor space, others smartly compartmentalized. And many with luring advantages, such as parks nearby or within the complex, proximity to important public transportation lines, a variety of facilities on the premises, from barber shops to supermarkets, and so on and so forth. 

So, again, it’s not surprising people have moved. A Bank of America’s report shows that 93% of Americans are happier after buying a home, and 83% would never go back to renting, based on a survey of nearly 2,000 consumers. Granted, home ownership is an inherent part of the American dream. On the other hand, the need for stability is universal. So is the desire to live comfortably, as any real estate developer could confirm.

Perform Better As a Real Estate Developer

So we’ve established that people have moved, in search of isolation, greater home features and space – and not just space-space, but proper space for keeping their work separate from their family life, house chores and responsibilities as caregivers. These moves have worked to the benefit of all you real estate developers out there and the economy, as a whole. 

All good and well, but to perform as a real estate developer in this very dynamic landscape, you have to do better and better with every new residential complex. 

Source: https://www.granviapark.ro/ 

How can you do that? You can start by taking a deeper look at how the pandemic has caused changes in human behavior. And to monetize that not only by doing what you already do, but by doing more. 

By turning to Nooka.

First, let’s go back to the pandemic to see how consumer behavior has changed beyond renewed demand for houses and apartments. We were saying just a while back that it remains difficult for tenants to balance their private and work lives, no matter how dreamy their home is. 

As remote and hybrid work regimes prove that they are here to stay, pressure on employees to perform and keep up the productivity remains in place. And this despite reports that employees have upped their productivity. But at what cost? 

It is a pressure that has psychological implications, given that, when at home, employees are not just employees. They are at the same time mothers and fathers, caregivers for other members of their family, or even just their pets. And they are tenants who must look after their home. 

Source: https://www.forbes.com/sites/chriswestfall/2020/05/20/new-survey-shows-47-increase-in-productivity-3-things-you-must-do-when-working-from-home/?sh=527ad44f80dc 

Either way, productivity does not come automatically for anyone now, because more often times than not employees lack working conditions in their home. Or they simply cannot stand to be in between the same four walls all day, every day, waking up in one corner, having their meals in another one and, if they are lucky enough, working throughout the day in yet another corner of their home. 

That in itself is a perfectly valid reason for dropping productivity and/or growing high functioning anxiety, where employees perform well but under much stress. Sadly, it doesn’t look good on the long-term for those found in either of the cases. 

Respond to Nascent Consumer Behavior 

Real estate developers have a growing role to fill for their tenants – most of them, if not all, are employees after all – as the desires, mindsets and, on the long haul, demand of the former shifts. 

We have seen in recent years how real estate development outdoes itself, mainly through hi-tech solutions and personalized features. It is a trend that has been on for a few years and that gives no sign of backing down, but of accelerating, if anything. 

Tenants look for personalized options and real estate developers offer them. It’s simply the law of demand and offer. However, as a consequence of the confined lives many have been living over the past year, a trend towards escapism means that there is now a significant proportion of property seekers – be they future home owners or renters – who may not even realize what exactly they’d like different in their home, but only that they’d like it… well, different. It’s no wonder that pandemic home remodeling has been booming

For this reason, the role filled by real estate developers is changing from simply responding to demand to actually helping to spark and shape the demand as well. And how would that happen now, given the pressures of work from home, at least a few times a week? By getting on the workplace mobility wagon and being there for tenants who need to separate their office from their home. By turning to Nooka.

Get the Best Bang for Your Buck

As the first-ever worldwide service as home office, Nooka comes not only to the rescue of worn out employees looking to smartly balance their work and private lives, but can also help you, as a real estate developer, to get the best bang for your buck. 

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And speaking of smart, Nooka is all that. Smart and connected: all pods have smart lighting and smart heat control, high-speed wifi, smart scheduling, mobile in-app payment, air control sensors and smart furniture. All modular offices are equipped with a whiteboard, wardrobe, locking system, and temperature control. 

They are also equipped with UV-C lights for disinfection purposes. Aaand people using it are at a comfortable distance from human interaction both when accessing the unit with the Nooka mobile app, as well as when inside the unit. So it’s completely safe, too. 

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The Nooka units, or Nooks, come in two different styles, Nooka One and Nooka Two, both available in three colours: Yellow, Orange and Blue, each shade with its own dimension. Nooka One has a smaller size, ranging from 9 sqm (3x3x3 m) in its Yellow version to 15 sqm (5x3x3 m) in the Blue version. Nooka Two is a bit larger and adequate for those seeking more space or to share an office with a close one. Its size ranges from 15 sqm (5x3x3 m) – Yellow to 18 sqm (6x3x3 m) – Orange and Blue.

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Beyond using Nooka to support a nascent demand for modular offices close to home, real estate developers can monetize the actual Nooka units and increase the value of their residential complexes. 

What you, as a real estate developer, have to do is register for a Nooka office, pay the set-up fee of approximately 1,000 EUR and then just go on to pay the monthly subscription, which ranges between 399 EUR to 599 EUR per month, depending on the type of Nooka unit you choose. 

Further, you start subleasing it to tenants. Even a 5 EUR per hour charge could leave you with a 2,000 EUR at the end of each month, not taking into consideration nighttime. But it’s up entirely to you how you choose to rent it out – per day, per week, per quarter, anyhow you want.

GranVia Park

GranVia is a real estate developer that has recently made a winning bet. It is the first to have responded to the developing consumer behaviors of its tenants and to have seen and seized the business potential in Nooka. A winning bet indeed when you help your tenants and help yourself all at the same time.

The real estate developer has placed a 4×3 m Nooka office in the parking lot of the GranVia Residential Complex (Park) in Bucharest, only one step away from tenants’ home space. Now they can be more productive, feel less pressured, but still be very much conveniently close to home.

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You, too, can follow on GranVia’s footsteps. You make a low initial investment and you get easy profit over time from a new source of income. This way, you anticipate tenants’ needs. You keep them happy. And most importantly, you have a competitive advantage in your line of business.

Visit nookaspace.com and check out the options!

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