A purpose-built residential building for rent, whether it takes the form of student housing, built-to-rent (multifamily) or senior living, looks very different to a traditional residential building. As they tend to put greater emphasis on the provision of communal spaces and shared amenities such buildings can, in some ways, bear more resemblance to modern co-working offices: multiple residents (companies) have their own homes (offices/workspaces) but also access to shared facilities such as gyms and event spaces.

The appearance of the physical space is just one example of the increasingly blurred lines between living and working. Both the home and office are being reimagined more as services and the trends we see in the latter are crossing over to the former.

From our 2019 What Workers Want survey, which asked 11,000 European office workers what they considered important in the ideal workplace, we’re able to forecast some of the trends that may make their way into home, and therefore guide developers and investors on what they should be incorporating to future-proof assets.

Location matters

Approximately 54 per cent of European office workers want to work in a town or city centre. This isn’t the preserve of the young, the desire to work in vibrant urban environments with easy access to amenities is common across all age groups.

Length of commute is a deal-breaker

Commute length was identified as the single most important factor for workers, with 86 per cent deeming it of high importance. This has implications for the residential sector when seeking new sites, as renters will be looking to be as close as possible to their workplace and – if they’re not – for strong transport links.

As the chart below shows, 'close' varies by city. In Lisbon, 64 per cent of renters commute under 30 minutes. Relatively affordable city centre living means that purpose-built rental product needs to be centrally located to compete with existing stock. Madrid, Berlin, London, Amsterdam, Stockholm and Paris, meanwhile, share very similar commuter profiles, with over half of renters travelling for more than 30 minutes. This suggests outer zones are likely to be as viable for dedicated purpose-built projects as city centre locations – at the right price point.

Length of commute by city

Seamless connectivity

What Workers Want identified the quality of Wi-Fi as the second most important factor for office workers, and one of the top ten factors they’re most dissatisfied with. 

Seamless connectivity is now essential both at work and at home. Building certifications have emerged to help landlords improve their digital infrastructure and promote buildings to tenants and broadband speeds now regularly appear on residential property listings. Wiredscore, a company that originally rated digital connectivity in office buildings, has now launched Wiredscore Home, aimed at build-to-rent landlords.

Plan for deliveries

Parcel collection is a major gripe in the workplace. Over 50 per cent of 18-24 year olds consider parcel delivery to be of high importance, against less than 30 per cent of over-55 year olds. Better parcel collection facilities at home are a potential solution here, an area where rental buildings with dedicated concierge or lockers have an advantage.

Further information

Read more: Spotlight: Global Living