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Posts Tagged ‘market’

You must have heard about those real estate investors, who purchased some property at extremely low prices, in a relatively lackluster real estate market. Then for some reasons the property prices soared and the property owners earned huge profits in no time. They are some lucky guys? Aren’t they? But before you start envying them for being the fortune’s favorite, let’s get your facts straight. The fact of the matter is that it is the market analysis and foreseeing capability that makes the difference, more than luck or fortune. Real estate market plays an important role in the process of property valuation, even more than the property itself. Therefore, next time when you are about to invest in some residential or commercial property, spending some time in evaluating the market can make huge difference.

An overview of the market and economy:

Have a close look at the ongoing situation of real estate market; do you see a bullish or bearish trend? Do you think this trend is going to continue in coming days or there are some signs of change? The overall economy has a direct effect on real estate as well, if there is economic growth in some regions, real estate prices are supposed to grow as more and more people and businesses will step in to take advantage of the growing economy. If you can retain a residential or commercial property or even some vacant land in this region, it can bring huge yields. Projecting a bullish or bearish trend is not an easy task unless you have got the drift of economic ups and down. However, you can take help from some experts (though, they might get it wrong as well).

Vacancy rate, Rentals, Prices:

If you are looking for short term investment, where you wouldn’t have to wait for longer period before you start earning, then look for these indicators. Vacancy rate of a real estate market is obtained by dividing the unoccupied units to the total units available in the market. You can have an idea of the existing property prices and the possibility of rise or decline in rentals or property prices, in near future. A significant change in mortgage rate can also boost or reduce sales.  

You should also check for the infrastructure and development work going on in the real estate market and adjoining areas, in particular if some big companies have recently entered or left the market.

Selling an apartment or flat in a condominium is a little different than selling a house. Apartment comes handy when you are looking for a small residence in some highly populated area but the problem arises when you have to sell it. Many people prefer to stay as tenants instead of purchasing an apartment. One thing that you must consider when buying an apartment is its resale value. For instance, an apartment at uppermost storey might sound OK to you but families with young children or some old members will just reject the deal, because it’s not possible for the children or senior fellows to go up or downstairs in case the lift is out of order. Therefore, you should look at the apartment from a general point of view before purchasing it, so that it won’t be a problem when you decide to sell.

Emphasizing on strong features in ads:

Think of an appealing title that will immediately catch attention when giving ads in the classified section of a newspaper (or property portal). For example, instead of choosing titles like “two bedroom apartment for sale” or “studio apartment for rent”, use titles like “perfect apartment for a family, with schools and markets in close proximity” or “ideal apartment for young professionals”. You must think of some strong points for your property and then highlight these features in the title.

Choosing the right medium:

As stated above, you must think of the strong features and then target some specific type of customers according to those features. In addition to the catchy titles, choose your advertising medium according to your targeted customers. For example, if your apartment will be best suited for students than advertising the apartment in a college campus makes absolute sense. Similarly you can choose internet, social networking websites, magazines, newspaper, etc in accordance to your targeted customers.

If you can’t replace, at least repair:

Once you’ve put on the ad, you can expect some prospective buyer or tenant to visit the apartment. If the apartment is newly built and vacant for some time, a little clean up will do. However, if you or some of your tenants are currently residing in the place, it means you must go through the basic repairing and cleaning work. Pay special attention to the kitchen and bathroom, and make sure your apartment is odor-free. That familiar scent of cigarettes may not trouble you or your friends in general but it may put off some buyers at once, especially if they are looking to move in with family.
Source:
Dubai Real Estate

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