Regional Head of Marketing
Trends in real estate are rapidly changing and last year has seen a remarkable shift in consumer preferences, spurred by the COVID-19 pandemic. In addition to looking for residences that meet the needs of their families, consumers are now looking for homes that bring something extraordinary to the table: state-of-the art facilities, amenities, and privileges that can cater to all aspects of their lifestyles.
A tenant looks for a home, not just a unit. That means a place with all the required facilities and amenities to complement their lives. In fact, customers are increasingly aspiring for the 15 minute lifestyle, one that grants tenants access to all aspects of their lives in as short as 15 minutes or less. Being able to access these facilities at home, or within walking distance, allows tenants to live their lives to their fullest aspirations. At its best, this means having access to such facilities at their residence, or within their neighbourhood, packaged within their tenancy.
Such offerings help cater to the needs of different demographics in a home. Play areas engage children, open areas attract older tenants where they can enjoy walks, and swimming pools and gymnasiums are sought after by young professionals. Luxury real estate is more about providing a lifestyle than it is simply about having a home. This explains why more tenants are inclined towards properties that offer activities outside of the home, such as recreational classes, sports facilities like tennis, squash, and padel courts, and access to spas and clubhouses within the vicinity.
At Alfardan Properties, this approach has led to the culmination of an overarching brand ethos of ‘Distinctive Living’, which aims to provide tenants with a bespoke lifestyle that is centred around their needs, aspirations, and experiences. Alfardan Properties takes pride in its modern interiors, state-of-the-art amenities, recreational fitness, kids’ classes, as well as tenancy privileges that span across hospitality, fine-dining, health and wellness. This places an emphasis on providing a lifestyle that is community-driven, enriched, and unique.
The way forward to enrich living solutions for tenants is in staying ahead of their needs and looking for ways to enhance their experience beyond their home. Property developers should strive to cater to the changes in tenants’ lifestyles that have been acquired over the past year and left a permanent shift in demands. In creating such experiences outside of the home, real estate developers can build lasting ties with their tenants that translate into brand loyalty in the long run.
This article was published as part of the seventh edition of Property Finder Qatar’s Trends Report.