The new residential real estate market has historically been driven by one key factor: private rental investment, supported by tax incentives. This foundation has shrunk dramatically, profoundly altering the structure of demand.
The shift away from rental investors toward owner-occupiers is transforming the very nature of the purchase decision: less driven by tax considerations, it is becoming more of a commitment and more demanding.
In this context, the customer experience can no longer be treated as a peripheral element of the sales process. It has become a fundamental component of the model, involving organizational, cultural, and economic trade-offs.
Summary
In the new-construction real estate sector, the customer experience is becoming a strategic differentiator for developers facing a more demanding and less dynamic market. Buying off-plan is based on a promise rather than an immediately visible property, which heightens expectations for support, transparency, and reassurance throughout the buyer’s journey. From the initial discovery of the development to the delivery of the home, the quality of the customer relationship directly influences the purchase decision, the buyer’s ultimate satisfaction, and the developer’s reputation. Digitizing the customer journey, personalizing interactions, and managing the experience thus become key factors in securing sales and building a lasting relationship with buyers.Contents
1. From Investor to Owner-Occupant: A Profound Shift in Demand for New Residential Real Estate
Decline in Private Investment in New Real Estate
The share of private investors in new- Procurement s has fallen sharply. Between the first quarters of 2024 and 2025, sales to individual investors declined by 41.1%, according to the Federation of Real Estate Developers (FPI).
This decline can be attributed to a combination of factors:
... but sales to owner-occupiers are on the rise
At the same time, sales to owner-occupiers are on the rise.
However, the buyer who plans to live in the property does not think like an investor. Their decision is not purely financial; it is also forward-looking and centered on residential needs. They buy to live there long-term and secure a stable living environment, often within the constraints of limited financial resources. This shift therefore puts pressure on the developer model, which must now incorporate greater demands for transparency, clarity, and reliability.
At the same time, another issue is emerging: that of 25- to 35-year-olds, who are still predominantly renters in major metropolitan areas. Faced with high prices, reduced borrowing capacity, and more disjointed career paths, this generation approaches homeownership with caution. Buying a home is not ruled out, but it is perceived as riskier and more of a long-term commitment.
For new residential construction, the challenge then becomes twofold, as it involves:
- financially sustainable homeownership;
- a purchasing decision that is understandable, reassuring, and appealing.
2. The Strategic Integration of the Customer Experience into the Real Estate Developer’s Business Model
In this new context, the customer experience can no longer be treated as a secondary consideration: it is becoming a cornerstone of the developer’s business model, with implications for the product, the organization, the internal culture, and financial management.
A Product Perspective: Structuring Flexibility Without Compromising Operations
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Upstream: partial co-development of the project
Some projects now incorporate co-creation initiatives at the program level: consulting future buyers on housing types, collective brainstorming on shared spaces, and the integration of new uses (telework, bicycle parking, and adaptable housing). -
During the sales phase: the framework for buyer-initiated changes (TMA)
Buyer-initiated changes are becoming a key driver of customization. But managing them raises a fundamental question: How long should we accept them? And how far should we go? The broader the window for changes, the greater the technical risk, coordination costs, and impact on scheduling. Conversely, closing the window for buyer-requested modifications too early can lead to frustration and a sense of rigidity.
An organizational dimension: securing the promise and ensuring continuity throughout the journey
Every commitment made during the reservation phase reflects on the developer’s credibility through delivery and even beyond. Misalignments typically arise at the interface between sales and the development program, but the risk is not limited solely to the gap between promise and delivery.
The promoter model also relies on the sequencing of the various stages of the customer journey, which involves a significant number of stakeholders: sales teams (in-house or partner), program customer relations, technical management, and after-sales service. With each handoff, responsibility shifts, and the connection can weaken.
It is in these gaps that “relational gaps” arise:
- prolonged silence during certain phases of the construction project;
- diffusion of responsibility as the delivery date approaches;
- A disconnect in information between the delivery department and customer service.
The organizational challenge is therefore twofold: to ensure the reliability of the promise chain upstream and to maintain continuity in customer relationships throughout the cycle.
A Cultural Dimension: Balancing Expertise and Support
FIRST CHALLENGE
: Adapting the
relationship to the segments
Expectations vary depending on the candidate's background and the project.
An investor and an occupant do not use the same decision-making criteria, nor do they have the same relationship to the project.
- Where one will pay particular attention to financial transparency, wealth planning, and the smoothness of the process
- The other will place greater emphasis on technical understanding, user experience, and clarity regarding timelines.
SECOND CHALLENGE
: managing the dual aspects of expertise and relationships.
- an approach tailored to a demanding, long-term project
- the ability to explain things accurately and factually
In a competitive market, the customer experience can no longer be viewed merely as a measure of brand image. It must become economically measurable.
This meansbeing able to quantify the cost of poor quality: internal coordination time, legal disputes, damage to the local reputation, etc.
Conversely, it becomes necessaryto objectively assess the value created by a controlled experiment: limiting assumptions, actively making recommendations for subsequent operations.
The challenge is no longer simply to improve satisfaction but to transform the customer experience into a controllable economic variable.
An Economic Dimension: Managing the Customer Experience in New-Construction Real Estate as a Strategic Asset
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