New developments, companies, start-ups in the real estate industry are transforming perceptions and needs around home ownership and rental experiences. In a society where home ownership is attributed to personal success, innovations in the residential rental market seek to enhance the appeal of renting. Evolving consumer needs are resulting in a trend of exclusive, community-focused living models. This shift is redefining how people view their living spaces, interact with their communities, and perceive the value of their homes.
New residential developments are beginning to emulate private clubs, following a resurgence of exclusive clubs in 2022 and 2023. The concepts manifests as a blend of luxury homes, branded residences and private clubs that create a highly personalized living experience. Industry expert Andrew Wachtfogel notes, "We are seeing new development amenity offerings closely mirror private clubs.... Further, some developments are allocating space within the buildings for a dedicated private club, some of which are open to outside memberships."
