B2C Marketing focuses on consumer research and behavioural insights, as it is the best way to understand how to sell a product or a service, how to retain clients, and how to create loyalty.
This should be a priority for the property industry because for most people, their key investment is in the property they are living in.
However, such studies are often overlooked by property developers who might prefer to focus their budget on the construction or advertisement side. Therefore, it is important to hire a design consultant that have the knowledge and experience to understand behavioural insights in addition to brands and trends.
This way of designing or branding for a specific demographic can completely change the success of the development.
For instance, since the start of Covid, there has been a resurgence in popularity for residential areas that are still within a reasonable distance to the CBD. However, this trend is short-lived as the government will focus on bolstering its migration intake in 2022.
The return of skilled migrants and international students will boost the demand for housing and have an influence on the type of residential property that will be built in major cities. There will likely be a higher demand for one-bedroom and studio apartments, since international students and skilled migrants will likely prioritise convenience over space when looking for a place to live. This will also shape the future of design trends in the city — I think there will be a focus on trendy apartments with ample lifestyle amenities, a more vibrant colour scheme, and a focus on sustainability, all to suit a younger demographic.
When it comes to property sales, the areas around university and city centres might see a potential increase in number of sales, from parents buying apartments located in prime areas for their university-bound children.
Having all these data points in place, from a professional, can have a significant impact on the success of the property development as it allows the developers to better tailor their product to what the future buyers will be looking for.
