Prized Common Assets Add Value to a Property Project
26 ส.ค. 2019
พลัสทอล์ก
The common assets at a condominium have come to be viewed by the majority of people as items which create expenses for co-owners in the long term – the more items, the more expenses. Everything has an upkeep and maintenance cost if they are to be kept in prime condition similar to that on the first day of project delivery.
At present, however, this view has started to shift due to a trend at super luxury condominiums where challenges of project development were not limited only to the creation of a quality, design-rich project situated in a highly desirable location and with excellent after-sale services.
Creating experiences for and supporting the lifestyles of clients have become another challenge that cannot be overlooked by any of the branded developers. The spot that can be used to create an association between the project and the residents’ lifestyles – one which is clearly visible – is the common area.
Common area and adding value to a project
In comparison to the previous period, we are presently seeing common areas that are more varied and distinct. At a project, effort is made to create a lifestyle community; a meet-up area for residents, a shared meeting room, and a communal kitchen and party room are some of the present-day additions to the common area.
Furthermore, value is being added to the common area by making it a miniature museum hosting fine arts that are among the few of their kind in the world. Doing so helps to augment the knowledge of visitors to the residential project and instills pride among the project’s co-owners.
Artworks are scrupulously placed in a common area that has been designed by a respected originator who has been carefully selected by the project developer. This is so each of the art pieces may receive proper placement that brings out its distinctiveness and projects its inestimable value.
Although the art pieces have been procured for display in the common area without the intention of attaining profit, each of the items is ingrained with tremendous value that does not depreciate over time. In fact, their values appreciate every year in a manner not unlike that of real estate. In this way, the value of the co-owners’ common assets expands every year.
Maintaining works of art
Effort needs to be put in to preserve the value of a super luxury project and to enable the residence to continuously reflect the fine lifestyles of the occupants in the long term. This is also true for the maintenance of art pieces, as professional upkeep of artworks may be considered a central function at a condominium project.
Personnel who take care of these residential projects receive improvements to their knowledge and having their skills augmented in manners that are more specialised than at ordinary projects. For example, certain materials at high-end projects require specific maintenance routines to keep them looking new and beautiful amid the passage of time.
These services are a notch above the norm and provides an additional channel for creating added value for a project.
The scope of investment has widened and we presently have access to new, interesting options in alternative investment. This was another example from the real estate circle that reflected continued development and attention to every detail, where the common assets are utilized for the benefit of sentimental value and for creation of added value in the long term.
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