Become a property expert by studying the market using these helpful tips.
Property in the Philippines is a much liked investment asset. It provides the ideal legacy to pass to your children. Therefore when investing in property you need to ensure that you know the market inside out. This will enable you to make an informed decision on your purchase. The Internet has created a great tool for anyone trying to understand the ins and out of the property market. Any astute investor will use it as part of their research. There are also a number of other factors to consider as listed in this guide here to help you get to grips with the current state of the market.
1. Activity levels.
The amount of transactions taking place will be a clear indicator of what the market is up to. However, the market doesn’t have to be buoyant to see a flurry of activity. In a dip investors will be taking advantage of the lower price tags on offer so there may be more trading than you would expect. This activity is likely to boast the market and prices increase as consumers gains confidence.
2. Track prices.
In order to paint a clearer picture of what is going on track both marketing prices but also achieved prices too. Just because marketing prices are going up, it does not mean that values are going up too. It could be that people are making offers on properties 10 percent lower than asking prices, so owners are having to push their prices up to factor this in.
3. Number of new instructions.
If new properties are coming onto the sales market on a frequent basis then this could be an indicator that owners are confident that the market is good. But if the lettings market is getting flooded with properties previously on the sales market, then this suggests that the market is stagnate and owners are not able to sell their property. Likewise monitor a handful of properties on the market. If one property is sitting online stale is this because it is overpriced, is presenting badly or if it’s a good property that is priced right, could this be an indicator that the market is not very active.
4. Talk to agents.
Real estate agents are your eyes and ears. A good agent will know everything about the market they specialise in from the latest prices achieved to how much activity there is. But remember an agent is more profitable in a busy market so it is their job to talk up the market so it worth speaking to a number of agents to get a good idea as to what is going on in the property market.
