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Living tomorrow: urban residences from now on

Living tomorrow: urban residences from now on

THURSDAY, September 29, 2016
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AMID fierce competition in the real-estate industry, one of the factors operators need to take into account and follow at all times is the trend towards urbanisation, which breeds new social-behaviour patterns.

Data related to the trend are used to anticipate changes in the industry and how the living patterns (of consumers) will evolve in the future.
Going back 10 to 15 years, who would have thought that condominiums would become a major housing-product category favoured by today’s generation because it meets their lifestyle needs?
And who would have believed that, today, urban townhouses or detached houses would be a product category favoured by the new generation of families that are willing to meet real-estate prices for a better quality of life?
The world we are living in will have a billion more people in 10 years.
For Thailand, we have taken a big leap in the last 30 years, which saw our population shoot up to some 60 million, with 10 million more faces expected in 10 years.
The population increase will mean urban areas will have to answer to the needs of the growing public with prompt and speedy development, whether in infrastructure, social or economic terms.
As more and more people move into the central business districts and surrounding areas in search of new opportunities, urbanisation is creeping to outlying areas and kindling consumer spending.
This is clearly evident in the development of mass-transit networks, the latest being the Purple Line, which are expected to contribute to urban expansion into the suburbs.
Aware of the comparable potential of these areas to the city centre, department-store chains have opened branches, with more due to be launched, in all corners of the city.
Urbanisation has led to new social behavioural patterns that real-estate operators cannot ignore. They need to think ahead and adapt quickly to ensure that their products meet consumer needs in a timely manner.
With the economy in transition at both the global and national levels, they need to identify the groups with significant income in individual segments and discern their buying power.
It is important to develop a product that is affordable for each group, particularly in the early-30s-to-45-year age group that has enormous purchasing power.
This group of consumers loves travel convenience, preferring to live close to the city or in emerging cities. Yet they should be able to retain close bonds with their families and workplaces with time to spare for rest and recreation. They also love to socialise and interact with people.
Based on mega-trend statistics, 60 per cent of people aged 30-45 choose to live in urban communities or wherever they can enjoy access to shopping, restaurants, workplaces and schools.
They also look for convenient transportation systems.
Another new pattern of social behaviour brought about by urbanisation is the 24/7 digital lifestyle.
The real-estate industry sees digital and living as completely separate aspects.
This is another challenge for AP guided by the vision of the AP Digital Community.
The main goal is to use technology, which has made a lot of strides, to support the changing lifestyle of AP’s customers by blending it with the Internet of Things – a concept in which systems and equipment communicate with each other to the extent that they can think, process data and react to the homeowner.
AP defines tomorrow’s living as convenience at future locations in which all functional spaces in the houses built by AP seamlessly integrate with the AP Digital Community concept to ensure maximum comfort and safety for occupants.
I will delve into the details later to give you a clear perspective of what the AP Digital Community is all about and how it differs from a Smart Home.