TRENDS OF BUYING OF REAL ESTATE
Real estate is classified further into three main categories namely residential, commercial and agricultural. The demographics, economy, interest rates, and government policies greatly affect its trend. The demographics describe the population size and their nature and it determines the trend of buying of real estate as per the nature and the demand of the inhabitants. For example if people living in a particular area work as farmers then the trend of buying of agricultural real estate would be high. Similarly in countries like America, England and London a large number of industries and companies are established therefore the investors buy the commercial real estate in them. Interest rates greatly affect in a way that the decline in interest rates encourage more people to buy the property. Fluctuations in government policy cause a decline in the sale of real estate.Now days the younger generation prefers to live in small, clean and well architecture houses.
Therefore in residential property trend of buying is towards buying of small and designed houses. They are giving priority to small houses in a town or suburban areas to large spacious house in urban and underdeveloped area.It is because the chances a earning a handsome money is greater in towns than in villages. It is because the technology, electricity and other facilities are greater in city than in a village.Another, interesting trend seen in buying of residential property is that the investors are buying the homes for more than fifteen years. It is because they expect to double the price of the property in next fifteen years to come. it has been seen that the prices of property really gets doubled in fifteen years and investors benefit from it.With the increasing population rate and inflation people are now buying apartments or lofts instead of large houses. It is advantageous in a way more people will get accommodation and get shelter in less cost. Modern lofts are constructed in such a way that it contains multiple stories.
Onfew of the investors buy the . a one of the stories are built the offices and shops and on the upper storeys are constructed lofts. In this way the workers of the offices buy lofts within the same area so that their expense on transport and their time gets saved.The trend of buying of inner city houses is seen in single persons. They are the one that have come out of their houses to earn bread in places where there are better opportunities to work mostly buy. The incentive in buying such houses is that the buyers are supposed to pay just half of the real mortgage.The big investors are buying commercial property in developed countries and they buy and sale it according to the ongoing values in the stock market. A few investors buy the property for long period of time to get the maximum benefit as after many years the price of the property would have increased. According to one of the research, the interest rates and mortgage rates will decline one day so that the buyers again get start making investment in buying of real estate.
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