Real Estate Trends Taking Hold in 2019
With the year now entering Spring, 2019’s real estate trends are shaping up. Expectations and new ideas are leading developers down a new path. With apartment living surpassing homeownership, renters are finding that life in the country’s top apartments has more perks than ever before.
Now, luxury living like this in Manhattan is redefining the standard for affordable apartments. A new era of rental homes is on the horizon. Here are the trends shaping the industry in 2019.
Changing the Meaning of Luxury
Luxury now means “improved” in the mind of the consumer. It started in the smartphone industry with new phones entering the market boasting additional features over last year’s model. Luxe additions are ones that improve upon the existing standard.
Apartment communities have taken a page right out of that business philosophy. Adding onto to convenient locations are communities enriched by lavish amenities and modern designs that enrich everyday life for their renters.
Combining these aspects also allows developers to create a unique brand at each location. Whether they are apts in NYC or San Francisco, the amenities offered by these homes cater to the lives of professionals who live there.
Ease of public transportation, state-of-the-art fitness centers, and dog-friendly amenities are a few examples of how these urban dwellings entice newcomers. Combined with the vibe of local restaurants, nightlife, and shopping, each has an identity all their own.
Together, the inner and outer community of each high rise creates a modern, luxurious appeal that renters are flocking to. It isn’t just luxury accommodation that renters want, however.
New Age, New Price
While luxury designs still come at increased prices, industry leaders are working to deliver these accommodations to a new income bracket. Professionals making upwards of $60,000 a year can now enjoy rooftop pools and private screening rooms once reserved for the upper echelon of society.
Resident cantinas, dog spas, and Zen gardens with yoga studios come standard in these new types of high-rise apartments. Services ranging from package rooms to concierge no longer require additional funds in some places, too.
Each apartment is, of course, more expensive than apartments that do not share these high-end features. However, the entry price point for surprisingly spacious studios has been reduced dramatically.
Taking Hold of Modern Trends
Trends constantly drive one another, and new apartments are taking after both the rising health consciousness of the nations as well as its green attitudes. It starts with a push for green construction and development in the industry.
Developers are utilizing eco-friendly materials when building their high-rise apartments. While that’s nothing new in real estate, the added green features inside are. Smart home technology allows these apartments to recuse their renter’s carbon footprints.
Health-conscious minds also take advantage of the areas these apartments are built in. Close proximity to organic grocers, ample outdoor exercise opportunities, and immediate access to the wellness benefits of on-site amenities are a driving force behind sales in the industry.