How to carry out a good real estate market research.
Currently the real estate market, like other aspects of the economy, has many fluctuations.
The variables are constantly changing, since it is a live market directly linked to the surrounding economic situation and will cause property prices, offers, demands, buyer preferences, etc. to vary.
At this point it is important in the real estate world that market studies are carried out as a crucial tool mainly for constructors and developers.
This type of market research helps to have a clear and precise understanding of trends and can help to anticipate.
What is a real estate market research?
It is a process of collecting, analyzing and presenting relevant information for study and subsequent informed decision-making in the real estate sector.
The important points of a real estate market research are:
Analysis of offer and demand
Analysis of offer and demand is essential, which will provide an overview of the number of properties for sale compared to the number of people interested in purchasing those properties in the specific area being studied.
Analysis of the evolution of the area
Here it is about analyzing the evolution over time in various aspects of the study area, such as whether the area has had economic growth or decline in recent years, what other projects are planned to be carried out in that area.
Here a comparison of prices per square meter was made on properties for sale in the same study area, even compared with other areas.
This will give you an idea of the market value of properties in the study area.
Identify the target audience
It is very important to clearly identify the target audience for which the project will be directed.
It will be done through studies to identify market potential, demographic and socioeconomic characteristics and people's behaviors.
Analysis of market trends
Real estate market research allow us to identify current and future market trends.
This can influence trends in design and construction.
Data collection and analysis
A market research requires careful data collection, as well as meticulous analysis.
Must be used as much information as possible, such as real estate data, industry reports, registrars, social networks, etc.
It would be to have an image of the market as wide as possible to identify the real estate investment opportunity minimizing the risks.