Why is research vital in real estate?
Created By RISC | 4 weeks ago
Ever wondered why we need research in real estate development? Past residential design might seem beautiful, healthy, and liveable. But there can be hidden consequences for residents, natural resources, and the environment. RISC would like to share why research matters.
Let's start with a definition of research.
Research means seeking knowledge by collecting data, information, and finding facts to solve problems or develop new knowledge. Research applies different methods and theories in each area for direct and indirect benefits.
Research and development (R&D) is a boundless task of asking questions and finding answers. Using this method in real estate development will support long-term organizational growth by generating new technological knowledge to improve and develop quality of life and new living innovations.
A liveable city is made possible by real estate development, which has a significant direct and indirect impact on residents, structures, and the environment. Research that has passed the screening process will create or add value in quality of life and well-being in various dimensions, such as upgrading indoor living for well-being, designs that reduce health impact for occupants by using safe materials, and systematic design that reduces the risk of various pathogens and increases safety through international design standards including from research and testing in the testing lab and real world.
Research supports the selection of long-lasting materials that meet usage needs, reduce energy consumption, or substitute materials for effective natural resource consumption, as well as the introduction of new knowledge and technology to help lessen the impact on the environment. This is in addition to the building and the environment.
By developing a conceptual model and design that deviate from the typical real estate development, we can understand how research is crucial to upgrading quality of life. It can also modify the original design to accommodate modern living requirements and be better prepared for potential changes in the real estate market.
By Dr. Jittapat Choruengwiwat, Senior Vice President, RISC