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The Current International Development of Prefabricated Houses

The Current International Development of Prefabricated Houses

  • Categories:News & Insights
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  • Time of issue:2020-07-24 13:38
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Summary description:

The Current International Development of Prefabricated Houses

Summary description:

  • Categories:News & Insights
  • Author:
  • Origin:
  • Time of issue:2020-07-24 13:38
  • Views:
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                                                                               The Current International Development of Prefabricated Houses

 

    The growing demand for prefab homes is causing a shift in the real estate scene. By 2020, global shipments of prefab homes are expected to reach 1.1 million units. This increased popularity can be rooted in its benefits—energy efficiency, transportability, design options, and world-class elegance.
But modern prefab homes are not just stylish, functional, and livable to the core. Homeowners are not the only ones who see it in a different light. Even real estate developers are looking at these projects with renewed interest, gearing up to reap the benefits of building horizontal communities out of prefab homes.
Here are some of the advantages of prefab construction to a real estate business.

 

                                                                                                                                                                           Common Prefab House 
Increasing Demands
Market demands change as housing trends evolve over time, and developers should learn how listen to the market to grow and remain strong amidst tight competition.
In the prefab industry, an increased demand is projected. In fact, there will be a 2.7% annual increase in global demandfor prefab housing through 2019 to 3.4 million units. This is expected to grow further in the coming years as the market realizes the advantages of prefabs.
This rise of the prefab market around the world poses business opportunities to developers to expand their portfolio and offer the market’s needs for better sales results.
Faster Construction
One of the most important resources in business operation is time. Often, long project schedule increases costs that could otherwise be avoidable. This happens in housing construction too. In India for instance, a new government rule states that real estate developers need to pay home buyers 11.2% interest for delays associated with turning over homes and apartments.
Unlike traditional home construction, prefabs are built faster since parts and materials are manufactured in the factory beforehand. This results in reduced effects of on-site conditions, sub-contractor delays, and other nuances affecting the project time. Because prefabs are quicker to build, more real estate developers can take on multiple projects, enabling business growth.
Lesser Surplus, Lower Losses
Distressed inventory is one of the biggest challenges of many private developers. A report found that 1.1 million properties had foreclosure filings in 2014. Foreclosed properties always hurt developers, lenders, and home buyers who are finding ways to lower their losses.
Both developers and homebuyers can leverage on the increasing demands and interests for prefab homes to ensure their returns on investments. For developers, this means fewer chances of having distressed properties. For homeowners, it means their homes will increase in value.
Flexibility
Based on the report from Harvard University’s Joint Center for Housing Studies, researchers estimated that home repairs and remodels would rise to 8.6% this year in the U.S., as remodels are quite expensive. In fact, homeowners spend between $4,500 and $49,000 in remodeling their kitchens. The cost is even higher for remodeling the entire house.
Prefab homes allow both real estate developers and home buyers to adjust the designs of their pre-manufactured homes to provide both limitless ways to transform spaces without compromising aesthetics and quality. Since prefab homes are highly flexible when it comes to design, you spend even less. Developing communities using prefab homes allow developers to be ready to meet new technologies for upgrades and address the demands stemming from the tighter competition.

Row houses with BuildTech Prefabricated Steel Structure

 

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