What are the real estate trends in Nigeria? How do Nigerians sell their properties in modern times?
With a percent growth of 2.3 in 2021, environmental experts are certain that real estate market would continue to grow.
To avoid falling behind in the real estate market, this post has highlighted the current real estate trends in Nigeria.
Here are the most popular ways people go about selling their properties;
Home staging
This refers to the act of preparing a home for sale.
It includes; moving of furnitures, cleaning, remodeling and adding other aesthetics to make it look more appealing to potential customers.
The decision to buy a home can be very emotional, people get homes for several reasons.
But, an attractive property will command a high price which implies that home staged will sell more.
Increase in rental yields
Due to the high demand in luxurious apartments, especially from the high income earners, rent prices in Nigeria has risen.
Hence, real estate investors might consider this as an opportunity to invest in luxurious houses that can be rented.
Increasing demand for affordable homes
The demand and supply theory holds true for the real estate market.
It states that the demand for a product increases as price decreases which is true because lower prices increases demand.
In order to draw in more buyers, investors might profit from this trends by making investment in affordable homes.
Technology Usage
Over the years, real estate market had historically been sluggish to accept technology innovations despite its impact on economic growth.
However, in recent years, it has adopted technology more to speed up sales and boost productivity.
With many people, businesses and organizations using technology these days, real estate has also followed suit.
Customers are changing
Due to the coronavirus pandemic and other factors in 2020, Nigerian’s attitudes towards their country has changed.
As such, numerous industries including real estate market have become more digital. Some buyers made purchases without visiting the properties.
So, if buyers conduct a virtual tour before making decisions, you must also improve your virtual skills.
Use of video marketing
Undoubtedly, video marketing is one of the successful real estate marketing strategy that has come to stay.
It is a tested and trusted tactics for showcasing properties’ unique features and increase awareness in an engaging way.
Thus, customers look forward to watching a video of the house they want to buy. Interesting right?
In order to be a successful in real estate you should assess these trends and include them in your long-term goals.
Similarly, given that the majority of the trends stated are technological in nature, you can also harness your technical abilities.
How? By using social media tool as a marketing campaign strategy to grow your business.
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