Mildred Delgado 6m 835 #realestate
The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Real Estate Trends You Need To Know In 2020
Whether you’re an investor, someone looking to buy property for yourself or others, or just have a general interest in the real estate markets; you’ll know the importance of the turn of the year. It defines the trends of the previous year and helps us to understand what the year ahead holds.
With this in mind, today we’re going to explore the five top trends and opportunities you can expect to take place in 2020, giving you all the information you need to put your best foot forward and make the right decisions with your investments.
1. Utilizing Technology More Frequently
While technology may have seemed a bit absent from the real estate industry, especially when compared with the rest of the world, there’s no denying it’s coming and there are plenty of businesses and niches in the market that are introduced new features to help make sales and improve overall experiences.
This includes things like new features on websites, chatbots on real estate websites, 3D modelling of buildings and properties, the introduction of blockchain technology, and artificial intelligence, all of which are going to bring about huge changes.
2. Emerging Secondary Markets
There’s no denying that hotspot cities have always been some of the best places to buy a property. Whether that’s New York, LA, London, Berlin, Paris, and any of the key cities, it’s become a fact that these markets are now saturated with investors, so much so that they are too competitive for many and may have even lost their value.
Instead, many people are starting to look into secondary markets, using the US as an example, in places like Charleston, Portland, Tampa, and the sorts. It’s worth keeping an eye on secondary markets and suburb niches since they’re going to explore over the next few years.
3. Increased Properties Going Green
With news of global warming spreading rapidly around the world, and more and more people becoming aware of what it is and the problems surrounding it, an ever-increasing number of people are starting to look towards green solutions in their lives, and this includes when it comes to buying a property.
Sustainability is key, and large groups are now looking towards greener properties in terms of their physical location aligned with local amenities and green technologies, such as energy-efficient builds and solar panels.
“Groups of buyers are also becoming aware of things like government energy ratings on properties, and if you’re furnishing your properties, the kinds of appliances you’re choosing to use. As more policies and legislation is passed, the interest in this area of life is only going to increase” shares Barry Scott, a business writer for Australia2Write and Next Coursework.
4. Growing with Community
There is a growing trend in the world when it comes to people wanting to live with a greater sense of community than in previous years. Things like social media and smartphones have made a lot of people feel more isolated from the world, even if they live closer with lots of other people, but now people are taking steps to reconnect with their physical communities and will be looking for properties that can help them do this.
This topic can be focused on in lots of different ways, whether that’s properties that are being built with things like rooftop decks and co-working spaces, or there’s the implementation of nearby events or multi-purpose buildings that ultimately create opportunities for people to connect.
5. Focus on Alternative Housing Opportunities
There are plenty of new opportunities that are now coming out and rapidly growing in popularity throughout this year, and almost certainly in 2020 when it comes to non-traditional ways of living and what kind properties people are looking for.
“For example, if you’re a commercial investor, you may want to start looking into things like the new 5G implementation for faster data centres and offering better connections to technology, which is what a lot of businesses are going to be interested in” shares Nick Smith, a career analyst for WriteMYX and Brit Student.
In residential properties, there are also a lot of changes and trends going on, such as multifamily living arrangements, and a dramatic shift in what kind of prices people are willing to pay and how property is valued.
As you can see, there are lots of different trends you’re going to want to consider, and it all depends on where you’re buying and what’s going on in your area of operation. Make sure you stay up to date with the latest trends and what’s going on, and you’ll be sure to make the best decisions possible.
About the Author
Mildred Delgado is a young and responsible real estate expert and writer at Academicbrits.com and PhdKingdom.com. She works with investors and commercial business owners to help them maximize their opportunities. You can find her works at Assignment Help.