For viewers of the multi-award-winning TV series Succession, its ‘Living+’ episode aired a few weeks ago, showcasing a very familiar concept that was embraced by investors amidst a whirlwind of excitement.
Living+ was presented as a luxury living community; a planned residential project described as bringing “the cruise-ship experience to dry land.” A real estate venture aimed at senior citizens promising a “safe, secure community enriched with integrated interactions with the cherished family of Waystar’s movie and TV characters.” All brought together by a fully integrated mobile app, allowing residents to enjoy and consume everything that is on offer both within and outside the development.
For outsiders, this concept may seem lightyears ahead, however, for many within the real estate sector, this tech-enabled community living is already here.
The senior living sector has started to embrace technology solutions to enhance the experience of its residents, with forward-thinking retirement operators already rolling out our Spike Living portal. We see Living+ however, as more akin to the BTR sector. BTR accounted for a record share of volume in Q1 2023, according to property consultants Lambert Smith Hampton’s latest UK Investment Transactions (UKIT) report.
Living+ looks to capture and create a sense of community amongst residents, with technology playing an integral part, something that BTR has achieved successfully already, thanks to resident engagement portals like Spike Living.
By helping residents to feel better connected to where they live, this increases the likelihood that they will feel more attached and responsible to their local community. Participation in social and community life not only has benefits in retaining residents, research by Apartment Life found that the more friends a resident has within their building, the more likely they are to renew their tenancy. Similarly, Kingfisher’s The GoodHome Report found that 73% of people who are happy with their home are also happy in general, with a happy home accounting for 15% of our overall happiness.
Whilst Living+ may have been presented as the future, residents can experience the benefits of tech-enabled community living now.
Spike Living facilitates the building of communities, allowing people to connect with one another and bond over similar interests, with access to property managers at a tap of a button.
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