Real estate has historically been known to be one of the most lucrative ventures for investors to risk on. Apart from the global economic recession experienced a couple of years ago, where the property values plummeted to near junk investment, this economic venture is known to have one of the highest returns on investment in Singapore economic activity. A lot of the returns are gained due to the addition of value on the homes as well as land.
So what are the trends in Singapore real estate contributing to its success?
One of the more consistent trends that have been graining ever more prominence is the use of the internet to market property. A trend that started in late 1990s, it has grown to the point where a significant majority of new home owners use the internet as the primary source of information.
This trend puts an end to the historical number one source for real estate information- the newspapers.
The growth of buyer agency
The concept and actual use of buyer agencies has risen and become a norm in real estate business. The advantages that are gained by real estate buyers are enormous, which has made the concept of realtor representing only the buyers interests fully ever more popular.
Currents trends in the real estate business
Although real estate business is generally considered as a lucrative business venture, it does suffer from cycles of high and lows; usually influence by the outlook of the economy and the various elements used to judge that outlook. It is for this reason that one should make a point of knowing the current trends of the real estate market and the areas where the risks involved are minimal while the foreseeable gains are considerably high. Such current trends that shape the face of the real estate business include;
This factor has influenced the growth of new eighteen hour cities that previously run nine to five. This expansion has opened up new frontiers for growth in the commercial real estate venture (retail space), while supporting growth in the residential real estate venture especially for homes that are only walking distances from the city centers. Such area or cities have seen considerable growth in real estate investment.
Real Estate Frosty Relationship Continues
The exponential growth and emergence of new technologies has always been a worrying factor for this rather traditional business. Technology has a fast changing pace and is shaping all aspects of life and more important to the real estate business, it is changing how real estate consumers are making use of space, how the consumers are using technology within their space as well as the ideal location; new ideal locations are thus arising as result.
On the realization of the influence of technology on Singapore real estate, players in the market are anticipating which technologies have a shot at being mainstream tech as they are being developed while figuring out how to integrate them to various aspects of real estate. Basically, the frosty attitude towards technology is thawing.