Buyers now opting for green homes, suburbs
Tuesday December 14 2021
A housing project. Covid-19 pandemic is prompting home buyers to move away from crowded city streets to more rural and country side locations. FILE PHOTO | NATION MEDIA GROUP
Covid-19 pandemic is prompting home buyers to move away from crowded city streets to more rural and country side locations.
Real estate consultancy Knight Frank in its latest Global Survey 2021 indicates that majority of people are now keen to move to spacious and more eco-friendly homes.
The Knight Frank survey reveals a desire amongst African respondents for green homes and the suburbs.
“The pandemic has fueled aspirations for bigger homes, both in the Africa, Middle East and in other parts of the world,” said Faisal Durrani, a partner at Knight Frank and Head of Middle East Research.
The survey indicates that about a third of all buyers interviewed said they are now more likely to buy a second home as a safe haven from the pandemic if restrictions return, up from 26 percent last year.
Of those looking to buy a second home, 23 percent say the pandemic has influenced where they want to buy and 22 percent say it has delayed their purchase plans.
‘‘The pandemic has induced buyers to reassess their buyer preferences and this is driving some fascinating changes in home buyers’ attitudes,’’ said Durrani.
Climate concerns
The Global Buyer Survey that was conducted among over 900 Knight Frank clients across more than 40 countries showed that good air quality, proximity to green space and access to good healthcare were unsurprisingly ranked the most important location features to home buyers.
Senior analyst at Knight Frank Tilda Mwai said the new findings send a strong signal to developers.
“The just concluded November Climate Change Conference (COP 26) in Glasgow, has helped to cement the growing importance of sustainable led residential developments. This survey provides us with a timely glimpse on how investors and buyers are zeroing in on the sustainability agenda across Africa,” said Mr Mwai.
The report also indicated that remote working influenced the choice of a home. A home office, access to broadband internet and outdoor space topped the list of the most preferred property feat.