The Major Marketing Trends In Construction And Real Estate To Watch Out For In 2021
For the last ten to eleven months, the world has been suffering from the Covid-19 pandemic which created global health crises of our time. This influenced each sector in terms of operations and economy and the real estate and construction sector is no exception. We could hear that every business sector has come out with their response plan to deal with this situation in terms of retention and protection of enough experienced and motivated staff and challenges faced in recruitment and deployment to take on the new challenges. Working from home became a new normal which has an impact on relationships and office atmosphere which is a must for some businesses. Although many say this is going to be a temporary phenomenon, however, we believe that the pandemic situation has created new trends which are going to be there forever. Here are some of the major trends in the construction and real estate field to watch out for in 2021 which are going to create additional job opportunities demanding new skill sets.
Health and safety at the construction site :
Every organization has stringent health and safety policy in place, however, in coming years the organizations need to bring in new amendments to tackle health and safety issues arising from the current pandemic. Social distancing will be the priority along with frequent sanitization of the working spaces, tools, and equipment. Organizations will look for people who will bring in new innovative ideas to monitor and maintain health and safety at construction sites. In 2021, you will observe new trends in monitoring and controlling health tools along with sensors available in the market which could track the locations and other health conditions of team members to address above mentioned challenges. Health and safety officers, safety managers, and safety engineers will be in demand to develop standards and maintain workers' safety at the site for more productivity and smooth functioning of the organization.
Offsite construction:
Offsite construction is becoming popular nowadays, research done on offsite construction reveals that it completes projects 30 to 40 percent faster, with better quality, reduces health and safety issues, and saves around 50 percent of construction cost. Offsite construction is a solution in case of shortage and availability of skilled laborers and adopted in many countries for the same reason. We believe that the present condition will make offsite construction a new trend and make it more and more popular in the following days. Organizations will look for professionals with offsite construction skillsets and create more jobs in Thrissur 2021.
Lean & green construction:
There is a good demand for lean construction practices and a green building market around in Thrissur, nowadays clients are looking for Commercial shops in Thrissur that are environmentally friendly, energy-efficient, and operationally cost-effective Moreover, green-certified buildings save around 35 percent of energy and 20 percent of water consumption compared to conventional buildings. A recent market study on home buyers reveals that around 20 percent of apartment buyers are enquiring and checking if the project has any green certification. The Kerala green buildings market is expected to double and may reach ten billion square feet by 2022. New trends in lean construction practices and green building concepts will grow in the coming years and more employment will be generated in this area.
Embracing technology:
As reported by McKinsey Global Institute, if we adopt disruptive technologies at a slow pace, by 2030 ten million workforces will lose their job whereas the numbers are 800 million when adopted at a fast pace. They also revealed that 75 million workforces need to change occupational categories if the technology adoption goes at a medium pace. We believe that the present situation will force organizations to adopt these disruptive technologies at a medium pace which will disrupt the job market and new trends will be seen in adopting the following technologies in coming years in Thrissur.
1. Automated Construction Equipment
It is revealed that companies working with automated construction equipment deliver projects with high quality, precision, completion within time and cost-effectively. We would see such machine use on construction sites in the year 2021.
2. Internet of Things
The Internet of Things (IoT) is slowly becoming popular in the construction industry of Thrissur. We are witnessing a new trend of connecting equipment, materials, and machines to IoT. Such technologies will create a new job market in 2021 for construction and real estate sector professionals. These professionals need to analyze and maximize the efficiency of machines by taking information from one machine to another and to provide better safety at the site in 2021 organizations will look for a workforce having such skill sets.
3. Drone Technology
The new surface trend we would see in coming years is the considerable use of drone technology for better visibility of construction sites. They would be used for various activities, such as construction site inspection, building surveys, health and safety induction, project progress report, maintenance inspection, live feed, promotional photography, however, thermal imaging recordings are few to mention. We believe that along with domain knowledge organizations will look for professionals having additional skills in collecting data using drone technology. Hence, processing the data using various software to extract features for the smooth functioning of the projects.
4. Building Information Modeling (BIM)
It is becoming popular and the usage of it is made compulsory in some countries. In India, this technology is slowly becoming eminent. The trend is seen with the advent of cloud-based software BIM is becoming more accessible. Building Information Modeling gives an advantage to users to extract information in all construction phases in real-time mode
5 Modern Printed Materials
Modern printed materials are popularly used in the construction industry along with prefabricated ones. These materials are used wherein more precise finishes are required and save time in executing the work. Modern printed materials are going to be the most admired trend in 2021 due to the shortage of laborers on site.
6Supply Chain Management
The Construction sector must look for alternative suppliers in Thrissur which are not impacted by major supply chain disruption. A new trend would be seen in 2021 that the construction and real estate sector will look for indigenous material and develop new supply chains and strategies.
7Resilient cities
We could notice that our current cities are having inadequate social and physical infrastructure as well as there is a lack of coordination between various authorities, lack of open spaces, and ineffective resource management in affected areas, although we believe that the present crisis will result in a need for substantial adjustments in how we shape, administer and live in cities, and designing resilient cities is to be a new trend in coming years.
8New trends among apartment buyers
The current pandemic situation has opened a lot of opportunities for developers. Apartment buyers have understood the necessity of an apartment. Individuals realized that they will be safe and secure if they have their own apartments. Hence, we would now prefer to buy an apartment soon. A new trend will be seen in 2021 that apartment-buying will be important over the place of work and influence urban development and real estate choices.
Few trends that will shape real estate in Kerala in 2021
In the modern Thrissur, the realty sector and its ancillary industries witnessed a series of structural reforms with the advent of RERA, policy change, industry consolidation, and fast growth. Real estate has helped increase transparency and trust between builders and buyers. Furthermore, the clarion of ‘Apartment for All’ has brought the mid-income apartment and affordable housing sector to the foreground.
The real estate industry has unquestionably evolved from brick and mortar to a service-driven product offering and the growth of the sector would be largely driven by ever-evolving customer requirements. As reported by the Kerala Brand Equity Foundation, the real estate sector in Kerala is expected to reach a market size of US$1 trillion by 2030 and contribute 13 percent of the country’s GDP by 2025.2021 will certainly be a positive year for the real estate market.
A. Both residential and commercial sector to grow
To enrich Both the commercial and residential sectors in the new year has great potential for both residential and commercial real estate businesses. A few years ago, the office space gained traction in most cities with IT/ITeS players contributing to the majority of the leases. Also, the warehousing sector will gain traction. Expeditious urbanization and white-collar migration will ensure strong growth for the commercial sector, which in turn will translate into higher residential demand. With concepts like ‘Apartment for All’, affordable housing will continue to be the key growth driver.
B. Sub-urban cities to get more traction
Markets such as Thrissur have seen a steady rise in demand for homes and we are optimistic that this trend is set to continue in FY21 as well. The affordable apartment segment will create demand in secondary markets like Thrissur, Chalakudy, and the likes.
C Technology reshaping the sector
Elegant tech and innovation in the sector is no longer a distant future. The key players will adapt to the latest technology – data analytics, artificial intelligence, and machine learning which will play a key role in modifying the realty field in Kerala. Moreover, the technology will also help boost the timely completion of the projects. Retail shops will continue to be the choice of customers.
D Sustainable and green living will be widely accepted
Developers and apartment buyers have been supporting green technology. This would continue to grow with developers focusing on technological advancements in procuring raw materials that are Eco-friendly and sustainable designs that are environmentally sensitive.
ELuxury apartment will be redefined
The traditional concept of luxury apartments will witness a major shift affected by the demands of the new-age apartment buyers. The luxury apartments will evolve to accommodate a holistic and elevated living experience that the developers will have to incorporate.2021 has been a year of reforms in the industry with an increased focus on transparency and sophisticated customers by both policymakers and developers. The systematic implementation of the government reforms will help in renewing consumer sentiment, which will eventually push the growth of the residential segment in the following quarters. People hope the New Year to be more than promising for developers and apartment buyers where the growth is led by the positive change in the business ecosystem.
Evolve and adapt to a new commercial environment by taking advantage of the opportunities created by the pandemic as well as shifts in consumer preferences. How the powerful marketing tools are used to work for your real estate business to target, reach, and connect with more buyers and sellers by individuals.
