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Once Amenities Are Now Table Stakes Scramble
from 2023 Trends Report
by Catalyst
THE CHANGING PATTERN OF CONSUMERS’ NEEDS AND PREFERENCES ARE DICTATING MUST-HAVES IN THEIR DECISION OF WHERE TO LIVE:
Certain amenities have become “non-negotiable standards as technologies improve.” Some of these table stakes amenities include:
The desire for indoor/outdoor living
Features and functionality for health and well-being
Home designs for a nimble work/life balance
Holistic home technology solutions, such as package delivery management, smart locks, privacy, security systems, and selfservice access to concierge
“‘Since COVID-19, we were able to pivot to a technology footprint for our business model that reduces reliance on people and improves the customer experience,’ said the CEO of a publicly traded, top-10-ranked multifamily apartment owner-developer. ‘So, it was an acceleration of what we’ve seen in other sectors to a self-service business model. The core of it is, “How do you interact with your customer?” and if that gets disrupted or the rules of the road change, “How quick can you adapt?”’”
2023 Emerging Trends in Real Estate® Report — PWC and Urban Land Institute, page 40
