31 Jan ‘Surban’ Among Important Housing Trends in 2017
Accommodation is one of the things assignees inquire about as soon as negotiations begin. What’s the type of unit will they live in? How many rooms will it have? Will it have a balcony, a mezzanine, a veranda, or glass doors that lend a sense of airiness and warmth to the place? How long will it take to get them from the unit to their workplace? Is the apartment near a hospital, a school, or the police station? Is the design classic comfort or does it have high-tech features? Does the tenant allow pets?
While considering these concerns, global mobility specialists also must be aware of the organization’s priorities, like rental costs, renewal of leases, and relocation assistance.
To balance the interests of these two parties, and resolve it in a way that can satisfy both, they must also update themselves on the housing trends that can influence the choices they have to make. Developments in property, real estate, and technology are also worth a look.
Industry outlook is unpredictable, but there is room for hope
Property rate and taxes will have an impact on housing, especially its costs which the owner might pass down to the tenant. Forbes says that both unpredictability and optimism spring from the uncertainty that is greeting President Donald Trump’s policy pronouncement on three factors that impact real estate: immigration, increased spending on infrastructure building, and lowering of taxes. While everyone is in a wait-and-see mode, his position on taxes and infrastructure is favorable toward business, which gives the uncertainty a silver lining.
What this means for global mobility specialists: Weather any volatility that happens in the near future, knowing that more positive developments will stabilize them later on. Continue networking with trusted parties and shareholders in the industry who can give you good advice and even better deals. California Corporate Housing takes time to listen to the concerns of its clients and is flexible in its arrangements to ensure the assignee’s satisfaction.
Millennials will contribute to the rise of medium-sized cities
An increase in the workforce can make a region or city’s real estate industry go boom! Working people, especially if they come from other locations, will be renting units near their new jobs, and the demand for living space will push price upward. Millennials, though, who are still making their mark in the world, will flock to the so-called medium cities or suburbs where rental is still very affordable. Fortune names Raleigh, North Carolina and Fort Collins, Colorado among the ones that have experienced growth the past year because of this development.
What this means for global mobility specialists
Money may not be a problem for your millennial assignee, given his current compensation package. However, there may be qualities in the medium-sized cities that he might find attractive. Be more sensitive to these interests. Avoid taking a one-size-fits-all approach.
Some of them might want more casual-looking digs, others might go for an apartment with the latest smart home tech. If your assignee is working in one of the larger cities, and not in the medium-sized ones, take him on a tour of his new home to make him feel more welcome. Emphasize some of its warmer, friendlier aspects. Northern California, for example, has a lot of neighborhoods that celebrate cultural diversity, a healthy lifestyle, and a passion for the arts. These hot spots just might make your millennial assignee’s creative juices going.
Surban will become sought-after
Market Watch defines surban as living spaces that combine the best of quiet, pleasant suburbia with the comfort and high-tech wonders of urban living. It all started when suburban neighborhoods began incorporating the more desirable elements of the city into their design and construction, sans the constriction and pollution. The new entity – surban – soon drew in professionals and their families who enjoyed finding friendly parks, cozy groceries, and health-minded sports centers literally a few steps from where they live and work. Surban provides them the convenience of modern amenities as well as the sense of a safe community that is rarely found in the bigger cities.
What this means for global mobility specialists: It would be smart to look for surbans near the workplaces of your future assignees. If none are yet available, check out areas that come close to it. In Northern California, that would be the family-friendly Los Gatos and San Jose with its rich history. Some housing units are their own mini-surbans, thanks to their own in-built features and modern design. The dazzling Carmel the Village in Mountain View is an oasis of luxury apartments within walking distance of art houses, nature trails, and exotic restaurants.