How Parks and Open Spaces Affect Your Property Investment?

Brett Alegre-Wood
November 29, 2018

Video Transcription: 

Hey guys. So how do parks and open spaces affect the fundamentals of your property? And I think I don't talk about this enough because actually, I find now that the whole concept or the way things are going is that we're getting smaller and smaller houses, Mickey Mouse houses. You know, they call them Mickey Mouse flats or, you know, and the square footage or square meters, depending on which country you're in, is getting smaller and smaller as, you know, developers try to keep the price down so they can sell it easier.

But, you know, we're squeezing things pretty tight now, although I'm pretty sure that it's gonna get tighter, and we'll start to see that, you know. I know for instance in Australia where, you know, where I'm from, you know, they still have quite a large square footage, you know. And, you know, they don't have multiple stories. Most of it's spread out over, you know, one story whereas you go to the U.K. you'll have, you know, smaller and smaller square footage, but you'll have it over three floors generally or two floors or one floor of an apartment.

So, you know, you got different places, but everything is heading in the same direction, which is smaller and smaller footprints. So what does that mean? That means we're getting scrunched in more and more. The other thing is with the breakdown of families and all these sorts of things and the nuclear family no longer existing in the form than it did of 2.4 kids sort of thing, we're now starting to find more people sharing longer, okay? So they're living with people that aren't necessarily family.

And so all these sorts of fundamentals are changing the way we live, but what it means is we're getting smaller and smaller living spaces. So open spaces and parks and things like that are becoming much more essential, you know, to our lifestyle. So are they important? Absolutely. You know, I live in Singapore, you know. And I live about 500 meters from the East Coast of Singapore which is 22 kilometres of literally riverfront, riverfront, oceanfront of Singapore on the East Coast, okay? So from Changi, in fact, I ride my bike 42 kilometres, which takes me the entire way around from the East Coast all around the side to the north side of Singapore, you know.

And, you know, look it's a fantastic ride. I do not have to ride with a car for that entire 42 kilometres. There is bike tracks and walking tracks. So it is an extraordinarily, you know, rich place, a great place to, you know, ride and get out. So actually, I don't mind foregoing some of my living space, which is going to be costing me quite a considerable amount of money, to rent or to buy or whatever it is, when actually I can have that sort of outdoor space. And I think, you know, the more design, you know, and urban regeneration and things like that happens, they're starting to include those spaces out for others and, you know, for people living in Europe.

So when you're doing your fundamentals, when you're looking at things, take that into consideration. Go and look on Google Maps. And look at where those green spaces are and the parks. And find out if there are walks. You know, a canal-side walk through London, you know, that's absolutely fantastic because you can get out of the hustle and bustle and the, you know, the cramped up spaces and the traffic and all that sort of stuff. You walk beside a canal, it's absolutely beautiful. And that sort of stuff will add to the lifestyle element. And that is something that estate agents I don't think use enough in the sales pitch when they're renting your property or selling your property, you know because these open spaces and parks are absolutely essential.

And really I should be saying fundamentals, you know, shops, schools, transport links, major employment, major investment, and parks and open spaces, you know, although that's the ledger side, yeah. But the reality is...And we do take that into account, by the way, with the ledger and shops, you know, that sort of that lifestyle, but it's absolutely essential. So guys, have a great day. Live with passion and remember to subscribe and comment. I'll be sure to get back to you.


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