The Future of Condo Living in a Post-COVID World
Wednesday Feb 24th, 2021
Though COVID-19 has undoubtedly impacted the condo market, for the time being, signs that condo living is already on its way back are aplenty right now. Indeed, rather than ending up the result of a fundamental shift in the homebuyer paradigm, post-COVID condo life may simply move in a slightly different direction – one that could include everything from in-suite design to demographics.
After all, condos were born out of the need for urban centres to adapt to growing populations – there’s no reason they can’t adapt further to meet the newfound needs of a population rattled by a pandemic.
Condo-seeking clients are indeed in the market for larger spaces. The home space and workspace has changed entirely. Developers need to revisit how buildings – and especially interiors – are constructed to make consumers more comfortable in these spaces. That means a focus on floor plans that are really functional, don’t waste any space and utilize as much interior space as possible.
COVID-19 really provides an opportunity to revisit the unit types and mix that we currently have in the market. It’s too soon to know if our work-from-home culture will stick around, but currently, there are very few condos that work for families – and that needs to change. For some people, backyards are overrated or unattainable.
There are a lot of people who love the density, urban spaces, and architecture that comes with condo living. Not everyone wants to live in a home. Pandemic or not, there’s something still appealing about the ease and affordability of living in a downtown condo. And we expect the Spring 2021 market will prove just that.