MARKET STUDY

How to conduct a good real estate market study.

Currently, the real estate market, like other aspects of the economy, has many fluctuations.

The variables are constantly changing, as it is a live market directly linked to the surrounding economic situation and will cause variations in property prices, offers, demands, buyer preferences, etc.

At this point, it is important in the real estate world to carry out market studies as a crucial tool, mainly for construction companies and developers.

This type of market research helps to have a clear and accurate understanding of trends and can help to anticipate them.

What is a real estate market study?

It is a process of collecting, analyzing and presenting relevant information for study and subsequent informed decision-making in the real estate sector.

The key points of a real estate market study are:

Supply and demand analysis

Supply and demand analysis is essential, which will provide an overview of the number of properties for sale compared to the number of people interested in buying them. properties in the specific area in which the study is being conducted.

Analysis of the evolution of the area

The aim here is to analyse the evolution of the study area over time in various aspects, such as whether the area has experienced economic growth or decline in recent years, and what other projects are planned to be carried out in that area.

Price study

Here, a comparison was made of prices per square meter on properties for sale in the same study area, including comparisons with other areas.

This will give you an idea of the market value of the 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.

This will be done through studies to identify market potential, demographic and socioeconomic characteristics and people's behaviors.

Market Trends Analysis

Real estate market studies allow us to identify current and future market trends.

This may influence trends in design and construction.

Data collection and analysis

A market study requires careful data collection as well as meticulous analysis.

To do this, you need to use as much information as possible, such as real estate data, industry reports, registrars, social networks, etc.

It would be a matter of having as broad an image of the market as possible to identify real estate investment opportunities while minimising risks.