While the sale and purchase of homes has fallen due to the rise in interest rates, sectors traditionally closely linked to real estate, such as decorThe design of interiors, renovations or moves are operating at full capacity. The reasons are several: among them are the rise of new models such as coworking or flexible spaces and changes in general in the field of Officesbut also in the residential area, since the fashion of coliving It generates new needs and the increase in apartment prices leads many families to renovate their home instead of buying a new one.
All these trends have led some specialized companies to register activity 50% higher than last year, although it is expected an even greater growth precisely due to the transformations in which architecture and real estate are immersed. Sources from the brick sector point out that interior design firms will have even more work in the coming years, as many changes will have to be made, mainly in the office segment.
Traditional offices tend to be lower density, with fewer workers per square meter and a friendlier work environment. In parallel, corporate headquarters adapt to a scenario hybrid to live with him telecommuting, which generates less demand for space. Often these empty buildings become coworkings or more flexible spaces that do have a longer run in the market and even more adjustments are expected when many of them are released for turn them into flatssince the opposite happens in the residential market: there is much more demand than supply.
Miguel Ángel Gómez, president of the Federation of Associations of Real Estate Companies, attributes part of the increase in demand for interior design and renovation services to the “strong decrease in sales”, which has occurred “while prices are rising and financing becomes more expensive due to the rise in rates. This makes it impossible for young people to acquire an apartment, but also for many families, who have to settle for making a few tweaks to their current home.
Jesus Martinez Caja, general secretary of the Madrid employers’ association Amadei, confirms that “the market is retracted and that makes people reform.” Furthermore, “a change of uses is expected in the Community of Madrid that will further activate the reforms.” It is “more than 100,000 square meters with change of use to make 20,000 homes”, an initiative in which the capital is a pioneer, but which could be extended to other parts of Spain with the same lack of apartments. All of this will mean a new boost to “businesses associated with real estate, such as decorators or removals,” predicts the business representative.
The evolution of buildings
“In the offices, the density of employees per square meter has dropped a lot,” highlights Fernando Lacambra, general director of Aqui Tu Reforma, who talks about the “reconversion” of the office towards sustainable materials or to integrate green and nature to create “spaces where someone can feel very comfortable.” Some companies resort to hiring kitchen services with a chef at their headquarters and others look for large terraces.
Likewise, another factor that forces the interior of a building to change is that “it must be adapted to the environmental standards required by the European Union.” “You are going to need a minimum of energy efficiency, for example with aerothermal energy,” explains Lacambra, who predicts “a huge wave of offices that will be left empty and companies that will choose to telework or coworking», which will generate new needs when it comes to adapt spaces.
Flexible and personalized offices
“Today’s office, you compare it with that of 20 years ago and it has changed completely,” says David Vega, CEO of Lexington, who emphasizes the “importance given to decoration, materials or design.” He adds that “previously people worked in cubicles and natural light, materials, color or shape did not matter, but they have an impact on the worker’s efficiency and today it is taken into account.” And it is that “the great challenge for companies is to attract talent and retain it”, so the office becomes a space to build worker loyalty.
In the case of Lexington, which rents flexible offices to corporate clients, it even has an internal architecture team due to the interest generated in companies by the customization of your headquarters. Unlike the traditional office, which is homogeneous regardless of the organization that occupies it, this new modality allows the number of rooms, common areas, the installation of a kitchen or canteen, telephone booths and the firm’s corporate colors to be adapted.
