I have tirelessly been insisting when I speak on residential property development that we do not sell square meters. A few people say that we offer quality life, but I find that term overused, tiring and frankly fuzzy. Therefore, I have been preaching that what we really trade are neighbors.
Hereby I’m sharing two stories where the community meant more value than the square meters.
1. My in-laws have recently moved. They left a more than 500m2 construction house feeling a little disappointed as moving to a less than the half of the area apartment. They were getting exhausted on maintaining such a big property, but they felt that the size was important to gather the family (and of course treat their grandchildren). Finally (without being a 100% convinced) they took the risk and move to an apartment.
When they reached out to me to discuss the subject, I made them consider about the search priorities of the new property. For me this wasn’t about a bedroom subject, square meters, interior or exterior finishes. It was a convenience matter.
When a project achieves to correctly classify the market, it gathers a group of similar people (either by demographics or psychographics) and creates natural clans. At the time one of these clans are made up and forms a social fabric, everything else comes in second place. I have predicted much on this subject, but it is not yet a priority on the property developer’s agenda.
About the building that my in laws finally picked, the 80% of it is integrated by “empty nesters”. Everyone living in a similar life stage. In matters of months only, they already display another life surrounded by new friends.
2. l had the great chance of being invited to Chicxulub by Emilio Correa, a community outside Mérida that shows big vacation properties in front of the sea. Up there, Emilio developed Villas Wayak, a group of 50 properties that gathers villas and apartments. Because of the rent costs payed for Wayak anyone would stay in any hotel near the zone or even rent a bigger house in front of the sea. Nevertheless, the project reveals the best tenure and rent costs on the zone, How do they do it?
It all happens in the common areas, where the children gather with new friends on a daily basis. The project scale is just sufficiently large to generate harmony among the kids but as small to perceive security on having them to a notable close distance.
During the day of our arrival to that place my son had already made new friends. He would leave home early in the morning with his schedule done and a carefree smile that only a person of his age would show.
In the nature of a real community there is plenty concept of engineering: from the market segment that handles, until which spaces are created to rise the value of that clan. Is a result that some projects have luckily achieved and that others (specially the ones guided by 4S) work for achievement.
So the question is, how many m2 would we pay for a friend?
In the future of residential real estate development the success of a project will be measured on the coexistence it achieves and how the design improves the experiences generated by the community.
Let’s create extraordinary neighborhoods and provide living value to our projects.
*Carlos Muñoz 4S is bystander of the real estate developers from all across the continent. His philosophic vision of the field enhances the talent of design and development equipments throughout Latin America. If you would like to market neighbors, reach him at: firstname.lastname@example.org