The Golden Quadrangle elite real estate experts’ club held a meeting in the Medovoe cottage estate. The main topic of the discussion was ‘The Fifth Element in a Development Project’ as the key driver of successful sales.
The first four elements of any successful project are (1) land plot selection, (2) master plan, (3) architecture and infrastructure, and (4) buyer profile. In some cases, two projects with the same perfect location, apartment availability, planning, balanced infrastructure, architect and design solutions can have a different perception and popularity among buyers. The reason for this is the availability or absence of a special ‘fifth element’ in the project.
In order to find it, market experts – top managers of urban and elite rural real estate development companies, leading architects and designers in the city, as well as elite housing consultants – met in the Medovoe cottage estate. The list of participants included representatives of PetroStyle, LenSpecSMU, YIT, Imperia, PAN, Honka, Richness Realty, Diadema Club House, ABR Management, City Agency, Rysev Realty, and О2 Development. The meeting also attracted specialists from the Bureau of Real Estate Market Analysis (BARN), leading architecture firms from St. Petersburg including Studio 17, Vitruvio & Sons, MK Interio, Studio 44, Z&K “Zemtsov, Kondiayn & Partners”, as well as representatives of design and landscape studios.
Summing up the meeting’s results, Golden Quadrangle members concluded that the key feature of the ‘fifth element’ in any project is the buyer’s desire to reside in the apartment or cottage development permanently – minimising the resale number. A special atmosphere in a residential development is the key component of this desire that reflects a developer’s reputation and management efficiency.