Real estate was always considered to be one of the most promising and best returns assured investment. However, the recent global pandemic affected all the industries and even the daily lives of mankind. So, thinking of any business or investment, people are more or less confused about its future. This is the same in the case of the real-estate sector too. Those who want to invest in real estate properties are so curious to know whether it will remain a profitable investment to put their money into it. The answer is yes; real estate is here to stay as always.
However, as the experts suggest, real estate investment needs a different set of strategies now in modern times to make it more profitable. Whether it is for purchasing a property as an asset or for personal use. In this article, we will discuss some expert advice on this topic.
As Eugene Bernshtam suggests, real estate is still a very profitable and high-yield investment in its various forms as residential, commercial, retail and rental, etc. As the multi-billionaire, Andrew Carnegie commented, more than half of the millionaires of this century created their wealth through real estate investments. With time, we have realized and experienced that it is true, but only if you have a catalyst mindset to make the most out of the opportunity. Real estate calls for a keen eye on the details and the ability to understand the market highs and lows to make the right decision at the right time.
Amidst all this chaos, the common man’s question still is whether it is safe to step into the real estate sector to make the investment?
Real estate investment strategies
As per the expert opinion above, real estate investment demands a different set of strategies at the current times.
- Check the scope/demand
Real estate boomed in the last couple of decades and is likely to grow strong. By the year 2025, the demand is going to touch the peak, and this will become real estate as a profitable business for strong players who enter in the meantime. The defaulters’ ratio also remains high, which creates a better scope for the genuine players to attract more customers.
- Invest in technology
Another important shift in real estate is the need to understand that advancement in technology and real estate is no exception. Landlords depend more on software to manage their property than being there physically. Many of the tasks are now virtual, including online rent collection, communication, virtual tour of the property, AI-enabled apartments, and so on. So, profit-motive real estate investors need to understand and invest rightly in technology to add value.
If you look at the economy, 2021-22 is seemingly a tough year, but as per the experts in the real estate market, you are about to see more traction in real estate in the coming years. Eugene Bernshtam points out that only those who are genuine are going to stay strong in the game and win.