TRENDS

Covid-19 shifts future home buyers preferences – survey

Space is also a concern for future home buyers

In Summary
  • According to the real estate firm , the pandemic saw people shift their homes into work hubs therefore people now search for wellness when buying homes.
  • Residential design is also anticipated to form a core element of buyers’ specifications, in the future, Knight Frank notes.
DEMAND: Prospective buyers visit a development christened Kirichwa Shelters in Kilimani, Nairobi. Photo/FILE
DEMAND: Prospective buyers visit a development christened Kirichwa Shelters in Kilimani, Nairobi. Photo/FILE

The Covid-19 pandemic has shifted what people look at when buying homes with most looking at wellness, according to Knight Frank.

The real estate firm  says the pandemic saw people shift their homes into work hubs therefore people now search for wellness when buying homes across Africa.

An attitudes survey by the firm shows that previously, one of the strongest selling points was proximity to work place, but with the pandemic this changed.

It notes that the demand for city living and proximity to urban centres across Africa underpinned the surge in prime residential properties around CBDs prior to the pandemic.

“Kenyans are now generally looking for land in serene places like Karen to build and settle down away from the city commotion,” said Tarquin Gross, Head of Residential Agency, Knight Frank Kenya.

Gross noted that the pandemic has highlighted the relative resilience of the residential sector as overall sales volumes did contract significantly.

"Respondents with future buying intentions have indicated that they are more likely to buy a second home out of the city as a safe haven in case of future outbreaks, lockdowns or disasters."said Charles Macharia, Head of Research, Knight Frank Kenya.

Residential design is also anticipated to form a core element of buyers’ specifications, in the future, Knight Frank notes.

“With people spending more time at home, they have been able to experience first-hand whether their homes meet their current lifestyle needs and review what they would prioritise when buying a new one in the future,” the survey observes .

The survey further show that space is also a concern for future home buyers , with 54 per cent of respondents indicating that they are now more likely to buy a detached family home than they were pre-Covid.