Despite the coronavirus crisis in the real estate market, the market for consulting and full-stage architectural services not only survived the quarantine and crisis, but even expanded. The changes that have taken place in the real estate market have called into question the feasibility of certain types of real estate and outdated formats. Redesign, renovation, re-concept – this is the vector the market is taking. The formats of retail real estate, housing formats are changing (we are seeing a “boom” in suburban housing), offices also require changes: there is such a thing as a co-office – a mix of coworking and office structure for all tenants of the business center.
In addition, the client becomes more selective about the need for quality architecture.
Prices for architectural services have not changed significantly, but the requirements from developers are increasing, as home buyers have added architecture to the main list of requests (price, location, infrastructure). Thus, such tensions drive out small players and create real competition between market leaders.
As for us: by the end of the year, demand for services in architecture (residential, commercial) is expected to grow by 30%, suburban real estate “- 100%”, – comments Vitalii Boiko CEO NAI Ukraine / Urban Experts & Leslie Jones Architecture for Property Times