Expected Trends for Multi-Family Real Estate Development in 2022, According to Bruce Strebinger

High housing costs have pushed many to apartment living options. What trends will the multifamily housing real estate see for 2022?

VANCOUVER, ONTARIO, CANADA, February 2, 2022 /EINPresswire.com/ -- The high cost of housing in Canada has been a topic of discussion for more than a year. Recently, Bruce D. Strebinger discussed how the home price-to-income ratio is the worst it’s been in 31 years, and Canada’s ratios are much higher than other G7 nations.

High pricing has led to an increased focus on multifamily housing markets. According to entrepreneur Bruce Strebinger, there is a lot of tension in the real estate world. He believes the following trends will hold true for 2022.

A Focus on Health and Wellness will be Key

The pandemic shed light on the importance of personal health and wellness. Bruce Strebinger says smart property developers are capitalizing on this trend and incorporating it into their designs. Incorporating filtrated fresh air ventilation is one example of a valuable feature for a multifamily building. Modern spaces that include pools and yoga rooms are going to be popular in 2022, he says.

Roof and Terrace Spaces will Offer Valuable Space

Bruce Strebinger notes that the spaces above the buildings are another place to be utilized. He notes that many new developments include outdoor spaces, and the roof is a smart place to include additional space. People being ordered to stay inside for more than a year has really increased attention on the availability of outdoor designs, he explains.

Calm Environments are the Most Appealing

With people spending more time at home, many are realizing how important it is to have a calm environment, Strebinger notes. He says that people want a place where they can work and live in peace. This means the design trends for 2022 will include apartment features with soft neutrals and cozy accents. Stone, wood, wool and other natural fibers can help bring more comfort into the indoor space.

Communication will Boost Reputation

Though there is a lot of tension in the current market, Bruce Strebinger encourages landlords to look at the long-term picture. He says higher retention rates reduce the cost of turnover. Strong tenant relationships can also create invaluable reputations for landlords. He notes that word-of-mouth marketing is the most effective way to get new tenants interested in your spaces.

Property Values will Remain High

Demand continues to increase for multifamily housing. Though the vacancy rates recently increased in Vancouver and experts keep warning people of a looming housing bubble burst, Bruce Strebinger believes property values will continue to hold high in 2022.

“There is a lot of volatility across most markets right now,” he notes. “I’m encouraging entrepreneurs to stick it out. Becoming agile in the face of difficulty is proving an important part of the game in light of the current challenges. Trends for 2022 will continue to test our ability to adapt and adjust. Ultimately, people are looking for a connection that goes beyond the dollar signs. I think that’s an important part of the job.”

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Source: Bruce Strebinger