How is the pandemic shaping real estate for the world?

22 Aug 2021

How is the pandemic shaping real estate for the world?

22 Aug 2021

By Rohan Parikh The world is swiftly adapting to life in a pandemic, making everyone rethink how they look at their home, work and workspaces, and most importantly, leisure and social life. Real estate experts are being called upon to reshape the spaces that people live and work in. Consequently, narratives about architecture are evolving, leading to diverse innovations touching our lives like never before. Here’s looking at a few. Schools and other workspaces have come home With the emergence of online classes and video meetings for work, acoustic divisions find space in a family that lives together all day long. From lack of daylight in one room to the need for an extra bathroom, every detail is being looked into. The entire assemblage is turning endlessly scalable and mobile. It won’t be too long until people adapt to a new idea of a house, as they continue to spend more time indoors. Homes are being converted to spaces with more possibilities Demand for home offices is all set to outlast the pandemic. It’s obvious, then, that people need an inspiring environment that can keep up a lively vibe and yet be flexible and functional. For instance, people may invest in mirrors that can fold down from a wall and double-up as a work desk. Bedrooms can be reimagined as full-fledged workspaces – with proper illumination, wallpaper, a large screen, a comfortable desk, and more. People are demanding smaller, more private spaces Think “parklets”, instead of parks, that offer a safe and well-lit spacious area to connect in smaller groups. Real estate is making that happen. Bigger lounge spaces are making way for smaller, private cabins with luxe amenities. From developing parks for residents and the community to share, to game rooms with sports simulators, the world is becoming as small as the building one resides in. Amenities are going through a makeover Recent years have witnessed how advanced amenities have become a magnet to attract residents. Better equipped gyms and swimming pools, dog walking, outdoor yoga spaces – the list is endless. Now, the pandemic’s impact on urban lifestyles has revealed changes that can be implemented faster than building a new space. 24x7 gyms? Roof desk for an outdoorsy feel? A lounge converted to an under-the-sky school? Anything is possible. Buildings are being developed in a bubble of safety Developers are installing bipolar ionisation technology in elevators to continuously clean air and fight bacteria and viruses. Motion-triggered faucets and sensor-led toilets are being deployed in shared spaces. Copper, instead of steel, is preferred for frequently touched surfaces and handles for its antimicrobial properties. Separable and replaceable outdoor furniture is emerging as a preferred choice by many developers. What’s next? Post-pandemic architecture will see the shift in form, as a symbol of changing ideology and way of life. New concepts for adapting homes to the new realities have already started to emerge. The healthfulness of a building and its shared spaces, for one, is now considered a vital amenity. More inventive designs will continue to appear and put the richness of architecture at the heart of change. The future is exciting. (The writer is the Managing Director of Iconic Developments and an alumni of the Wharton School of Business and INSEAD)

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How is the pandemic shaping real estate for the world?

How is the pandemic shaping real estate for the world?

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