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Real Estate Industry Analysis
Without any doubt, the market of real estate has widened over the years and is still growing at a great pace. Moreover, real estate makes an excellent option of investment for the people. Instead of investing money in other avenues, people prefer to invest in real estate.
Areas of The Real Estate Industry
Not many people know much about the real estate industry, it’s working, and the diverse areas involved in the same. Go through some of the key areas of the real estate industry to have an overview of it.
Development
The primary area of real estate includes development. It refers to the process of purchasing the land, constructing it, and making it available for use to the end-users.
Marketing
Later on, the developers coordinate with the marketing team to sell the buildings they go upon creating. For doing so, the marketing agents will earn a commission.
Brokerage
The next aspect includes brokerage. The final transaction decided between the buyers and sellers is known as brokerage. This helps the people get the best terms for the property.
Property management
All those who do not want to sell their property and manage it well are included in property management. It includes a collection of rents, fixing repairs, and overseeing the tenants.
Lending
Another crucial part of the real estate industry is the lenders. It is nearly impossible for people to purchase real estate on their own with their own money.
Professionals
Growing the real estate industry is a distant dream without the professionals in it. For making things happen, there are real estate professionals that make it happen.
Growth of Real Estate Industry
Getting to know some figures before investing in an industry is crucial and serves as a plus point. The annual growth is expected to rise as per the latest sources. (CAGR 2022 to 2025). In 2019, the real industry market was US$ 1.72 billion but it is expected to reach US$ 9.30 billion by 2040.
As per some latest sources, the demand for data centres is also expected to rise in the coming years by 2025 and in 2040 expected to rise for commercial real estate between $14 trillion to $17 trillion. In addition to this, the US commercial real estate market is witnessing a growth between $14 trillion and $17 trillion.
The wave of covid-19 affected each sector greatly. The same is the case with the real estate industry also. Besides the other sectors, the real estate industry also got affected by the pandemic, especially the residential sector. In 2020, in commercial real estate market, there were 140.8 million units. In 2021, there were 6.9 million in US home sales and expected to grow by 7 million in 2023.
For residential property in 2021 the cost was around $1.25 million.
The rise of 5.1% is expected for commercial property from 2022 to 2030.
But it gained momentum as soon as the lockdown lifted and the demand swelled up. It would not be wrong to say that increasing industrial activities is the major factor contributing to the growth of real estate. The demand and sales of real estate are expected to rise greatly.
Take your Real Estate Business to the next level!
Tekki web solutions might help you with the assistance of technology.
How has Technology Affected The Real Estate Business?
No doubt that the real estate business is always at its peak but still, the need of the hour is to take advantage of the technology and mobile applications to ease out the process be it construction or sales. Let us learn how technology can prove to be a boon for the real estate industry.
Data analysis
Using the latest mobile and web applications for the sale and purchase of a property will make it easy for you to analyze the huge data. The software can guide you regarding the latest trends, prices, demographic data, and other things which are crucial to making a decision.
Automation
Managing manually all the tasks of the real estate industry sounds way too hectic. The paperwork involved in the business is difficult to handle. Fortunately, you can get automated solutions for your real estate business by way of technological advancements.
Virtual reality headsets
Virtual reality is no longer confined to games but is also being used by the diverse professional sectors and the real estate industry is one of them. With this, you can provide access to your buildings and properties to people virtually at multiple locations.
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Perks of Investing in Real Estate
Besides offering you huge profits, real estate also has other multiple perks to offer the people involved in it. Let us have a sneak peek into the advantages of real estate.
Huge demand
One major reason for thriving real estate business is the ever increasing demand. As per the recent survey, it is estimated that the demand for the data centers is going to rise by 15-18 million by 2025.
Lucrative opportunities
Another great benefit offered by the real estate industry is the lucrative opportunities for earning profit. It is expected that Indian firms will make more than 3.5 trillion by investing in real estate business by year 2022.
Ever increasing investments
The investments made into real estate by both the private and public organizations is immense. The industry recorded a 54% hike in its investments in 2022 from the ones made in the previous years.
What are the popular kinds of Real Estate?
Investing in real estate can sound difficult to people initially due to the number of options they have. Real estate is not of one or two kinds but many and each has its unique purpose and use. Usually, real estate is of four kinds which are mentioned below.
- Vacant or row land
- Residential Real Estate
- Commercial Real Estate
- Industrial Real Estate
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