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Happy new year! May you all stay healthy, happy, find abundance and success.
It seemed that 2020 never wanted to end, but hey, we left 2020 behind and 2021 – at least from a real estate perspective – looks interesting.
Here a few trends that we expect to go strong over the next year.
Tourists will come back (and so is Airbnb)
Of course, tourism will come back, and with that renting of tourist accommodation too. But some service providers will come first.
Premium brands will be ahead in the recovery, as well as everything related to the luxury segment. Customers will be willing to pay more for private services, exclusive products and benefits that reduce contact with other guests or passengers.
There is also something to say about the prevalence of domestic and nature trips. The ‘staycations’ which were previously an alternative trend, will be a consumption pattern for a long time.
Therefore, non-crowded destinations in large cities, as well as rural tourism in nature will enjoy a greater role.
Financial education will (finally) become more common
The odds are that you and I were not financially educated. ‘Back in the day’, it wasn’t right to speak about money. It belonged to the private sphere.
Also in school, financial education wasn’t part of the program. This is crazy if you think about it. How is it possible that in 2020 schools don’t explain properly what the value of money is? How to earn it? How to save it and where to invest it in? People haven’t heard of concepts such as cash flow until their thirties (if they were lucky). This is truly unbelievable.
But happily, this is changing and the shift will come from top-down. The European Union is aware of this and launched a program called ‘Financial Education for all European; Economic and Social Committee Financial education strategies and best practices within the European Union.’
The introduction words of Mr. Joost van Iersel, President of the Section for Economic and Monetary Union and Economic and Social Cohesion are spot-on:
‘Dear reader, I am firmly convinced that our societies need to take a major step forward towards better promotion of financial education initiatives. We need to pass on knowledge and skills to the people of Europe in order to empower them to take the right decisions when managing their personal finances.’
‘Co’ becomes common
All the Co-concepts related to real estate will grow massively over the next years.
Co-housing from private and public initiatives, cohousing senior residences, co-neighbourhoods, like-minded communities that revive empty villages, etc., all these will boom.
Basically, it comes down to a group of people, co-op members, who purchase a share so that market value increases do not affect the property over time. This maintains affordability over time and generations.
Another crucial part is that the members themselves create and manage the space. The focus is on participation design, sustainability, community life, adaptability, often open building infrastructure.
Collaboration strategies range from restructuring the buildings and centralizing common services to creating a single contract to offer the Internet to the whole block of flats or providing a common room for washing machines or a gymnasium. Especially the co-housing concept for seniors is growing quickly in Spain. Something we will come back to in future posts.