Pointing the way: Using behavioural science to generate value for real estate developments, communities and cities
Are you more likely to drive or walk on a rainy day? Do you interact more with your neighbours if you live in an apartment or a stand-alone house? Both of these considerations are a testament to how our environment affects our behaviour to such an extent that our choices are often not driven by our preferences or intentions, but by our surroundings.
Sometimes we notice our behaviour shifting. We stop using shared bikes because it is hard to find a place to park them, for example. Other times we don’t — such as when we unconsciously take the elevator at work without even considering taking the stairs, simply because the elevator is right in front of us.
Behavioural features that affect our choices are everywhere, and harnessing their power can have a strong impact on enhancing the overall value of real estate projects and cities. Cities today are facing tremendous challenges — from improving affordability and quality of life, to reducing energy use — and the cit