Returns or Comfort: What Drives Apartment Buyers
On 11 August in St. Petersburg, Elena Root, Executive Director of Brandson Branding Agency (Total Skills Netwrok), took part in the open discussion "The Real Estate Market in 2030" organised by Stand UP Office. Here are the key points from Elena's talk.
Elena, a certified specialist in branding, marketing and advertising, spoke on the topic «Returns or Comfort: What Drives Apartment Buyers». She answered the questions: what is the state of the serviced apartment and residential property market, what development trends are there, and what to expect in the near future.
«10 years ago the apart-hotel market was fairly homogeneous. Apartments were bought by employees of foreign companies, top managers and businesspeople. The decisive factors for them were: location, hotel service and price. Today, interest in renting apartments has doubled compared to 2020», — notes Elena.
Investors are considered the traditional buyers of apartments:
· pure investors (buying to let)
· recreational apartments (living there at weekends/on holiday, renting out the rest of the time)
· business-travel apartments (staying there when on business trips, living between several cities).
The share of family buyers is growing. Parents often buy property for their adult children. At the same time, more and more buyers are purchasing apartments to live in rather than as investments.
Since the audience's demands now vary, brand platforms are correspondingly diverse. For example, for our client FIZIKA Development we developed the brand of a premium investment hotel in a major business district in the centre of St. Petersburg with high potential for further development.
VIDI — is a vivid example of recreational apartments, aimed at those who want to tap into the city's potential. A location in the historic centre, comprehensive infrastructure, modern service. The brand helps make optimal use of St. Petersburg: investors earn income, while guests – explore the city in the most efficient format.
The most successful strategies for apartment projects — combine the maximum number of strengths rather than choosing one of two. At the same time, returns in any conditions are ensured not by a single component of quality but by their combination. The task of branding for high returns – is to create synergy between the following components: location, concept and management.
