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Reviewing 2023 and looking forward into 2024
As 2023 draws to a close, we’re taking a bird’s eye view at the HK and Asia market, specifically focusing on our speciality – Architecture and Interiors.
Over the year (so far) we’ve seen shifting market patterns, heavily influenced the by the growing economy. Other influences on the architecture and design industry's dynamics include anything from rising consumer demand to technological advancements.
Rapid Urbanisation in Asia
Rapid urbanization in Asian cities has profound effects on both the interior design and architecture industries. With high-density living spaces and vertical expansions, industry professionals have had to evolve their design techniques to get the most out of smaller spaces.
The demand for urban space in Hong Kong has led to the construction of high-rise buildings and compact living spaces to accommodate the growing population. Architects and interior designers must find innovative solutions to maximize space utilization and create functional, comfortable environments in limited areas.
Sustainability
Sustainability is making itself at home within the Asia and HK markets and will continue to be a hot topic in 2024. Restoration projects are becoming the talk of the town… or village, specifically this 360-year-old Hakka village in rural Hong Kong, and the results are impressive. Taking abandoned land and giving it a new lease of life, using predominantly locally sourced and upcycled materials.
Despite rapid urbanization in Asia’s cities, green spaces are invaluable to the population, supporting mental health, exercise and also the environment. Architects and the Hong Kong Government are focusing on the integration of sustainable and eco-friendly designs, incorporating green roofs, vertical gardens, and sustainable materials to mitigate the environmental impact of rapid development.
Social and Cultural Trends
As rapid urbanization, cultural shifts also begin to fall into focus. Architects and interior designers need to consider changing lifestyles, preferences, and cultural influences when creating spaces that resonate with the evolving needs of the population.
Since Covid-19, we’ve seen rises in social trends influencing interior design, features of escapism were particularly prominent during this time. As of the end of 2023 and the start of 2024, we’re seeing bold colours and dopamine decor, people are beginning to feel happy indoors rather than feeling the need to escape it.
With trendy settings like Gym Town taking it’s refuge in Hong Kong, we’re also seeing themes and futuristic design take over. Because, who doesn’t want to orbit into space when hitting the gym?
Technological Advancements
We’ve delved into inspirational innovation of 3D printed homes on our UK blog, but the advancements are being used internationally. 3D printed homes solve an array of architectural problems. Whilst they significantly reduce the labour and construction time of the build, they also can be constructed at net zero like this one in California, USA , which speaks for itself in terms of sustainability solutions.
AR and VR have taken a hold of 2023, it’s the perfect addition to the visualization of any project. It can show key stakeholders your vision but also provides location awareness, allowing you to ‘put’ your architecture or interior designs within the actual location. The perfect aid for any Architect or Interior Designer.
BIM processes are continuously evolving to manage the shift in technological advancements, from improved 3D printing to 3D laser scanning, allowing you to record detailed information about a structure. The scanner then converts this information into data points which you can import into BIM software.
The metaverse has also begun to rear its head in the architecture industry, but will it make headlines for 2024?
What can we learn from 2023’s market?
Businesses are trying to navigate these market conditions in order to develop effective strategies, deal with continuous challenges, and search for growth possibilities within a constantly changing market. The only constant is change.
What will define 2024’s market trends?
Rapid urbanization continues to reshape the interior design and architecture industries by necessitating innovative, sustainable, and culturally responsive approaches to address the challenges and opportunities presented by urban growth. A wide range of the technological advancements we have looked at have been a product of innovation driven by solution finding for the rapid urbanization/sustainability issues that our planet is facing.
Looking to take on your next role in Architecture or Interior Design? Get in touch with our HK team today.