CEO Middle East

PROPERTY TRENDS

KNIGHT FRANK IDENTIFIES KEY REAL ESTATE TRENDS ACCELERATE­D DURING THE PANDEMIC

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“The focus on wellbeing and amenities are now increasing­ly at the top of our buyers list of considerat­ions, and as such the level of adoption from developers that previously would have taken years, has happened in a few months confirming that COVID-19 could impact the near-term supply and long-term design of housing around the world,” says Maria Morris, Partner at Knight Frank Middle East.

Other trends accelerate­d in 2020:

• Space for home offices: Developers are more likely to design flexible home working into their projects.

• Healthier/greener living: 38 percent of developers are more likely to consider facilities for bicycles.

• Urban appeal: Nearly half of respondent­s wanted city locations

• Mixed-use schemes: A third of developers are considerin­g adjusting the mix of residentia­l and commercial elements in schemes.

The Knight Frank Global Developmen­t Report 2020 underlines that branded residences have seen a surge in popularity thanks to features such as the lock up and leave element to stringent maintenanc­e procedures.

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