The UK's Build to Rent (BTR) and Co-Living sectors are booming, with nearly £1 billion invested since 2020 and supply projected to treble to over 20,000 beds by 2027. As developers rush to meet surging demand, BTR and Co-Living interior design strategies must evolve to create spaces that are both attractive and sustainable. Here are three key considerations for developers looking to maximise their investments in 2024:
Durability: The Cornerstone of BTR and Co-Living Interior Design
In the fast-paced rental market, durability is paramount. With 72% of co-living tenants aged 26-40, designs must balance trendy aesthetics with long-lasting materials. Focus on:
Sourcing products with multi-decade lifespans, especially for kitchens and bathrooms.
Balancing current trends with timeless elements to maintain broad appeal.
Selecting materials that minimise maintenance requirements.
Optimise Space Planning for Flexibility
Strategic space planning is crucial for maximising rental yield and future-proofing developments. Consider:
Designing adaptable units that can be easily combined or reconfigured.
Allocating sufficient space for amenities, which are increasingly seen as standard in BTR properties.
Planning for secure package delivery areas and other operational needs.
Foster Community Through Thoughtful Design
With 92% of BTR properties offering 1-3 year leases, creating a sense of community is key to tenant retention. Incorporate:
Aspirational shared spaces like gyms, co-working areas, and wellness facilities.
Flexible communal areas that can adapt to changing resident needs.
Digital platforms to facilitate community events and communication.
By focusing on these three areas, developers can create BTR and Co-Living spaces that not only meet current demand but remain attractive and profitable for years to come. As the sector continues its rapid expansion in 2024 and beyond, thoughtful interior design will play a crucial role in differentiating successful properties in this competitive market.
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If you require assistance with BTR design, please do not hesitate to schedule a call with Ademchic. We would be delighted to discuss your needs and explore potential solutions that align with your goals.
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