Real Estate Market Analysis and Trend 2019
INTRODUCTION
Real Estate industry plays a vital role in various aspects which include selling and buying of property, land, buildings and the natural resources (crops, minerals, or water etc). Currently, there are numerous businesses involved directly in real estate such as (Residential, Commercial and Agricultural). However, the major types of businesses that are involved in real estate are either operational (property management, asset management, loan servicing, etc) or transnational (brokerage, title, underwriting, etc).
Furthermore, the most successful real estate agents are looking for new ways to grow their businesses. According to real estate market analysis, it has been analyzed that an online presence (digital and web development) is essential for real estate success and there are countless ways to customize online presence to meet the goals. In the modern era, about 90% of buyers search for properties online before they look anywhere else. Business virtually becomes invisible to potential clients by not having a web presence. Conversely, having a website is cost-effective advertising and makes a real estate business readily available to anyone who conducts a quick web search. Web presence helps agents to build their reputation and brand. Moreover, it is important that a website is easy to navigate, attractive and has a high-quality image and text. In addition, a strong online presence can increase search engine rankings and web traffic which will draw audience attention.
Digital Marketing of Major Social Sites like Twitter, LinkedIn, Facebook and Instagram help real estate professionals communicate with consumers, post images and information about new properties for sale, and give people real-time information. Using these social networks, real estate agents can generate a lot of great prospects online. Digital Marketing furnishes quick communication which keeps a real estate agent’s listing fresh and can attract new clients. Digital Marketing should not only involve in posting about available properties and showings but also highlight relevant local articles and media. Hence, online presence is essential for success in the modern REAL ESTATE MARKET. Digital and web presence are an excellent place to share real estate content and drive traffic back to the website.
BACKGROUND
REAL ESTATE DIGITAL MARKETING STRATEGY
Real estate products are capital-intensive in which advertising process and long buildings are involved. Some of the important steps for its marketing are shown below
LOCATION:
After real estate market analysis that is determined Location is the most important strategic factor for real estate marketing
PRODUCTIVITY:
In real estate productivity is defined in terms of assets evaluation (increase & decrease in rate) over time
PROFITABILITY
Productivity is directly proportional to profitability. However, the higher the productivity of a property is, the higher the proceeds in rent or in purchases prices can be
ADVERTISEMENTS IN PRINTING MEDIA
As per our study we have seen there are various advertising procedures, most estate agents concentrate on advertisements in print media. Furthermore, potential clients distinguish the advertisement before communicating the corporation
RELATIONSHIP ADVERTISING OR NETWORKING
On the other hand, relationship advertisement contains the social engagement of estate agents in “organizations” “associations” and in local government politics. Additionally, it comprises participation in official life at “social events” invitations for public relations events or special occasions
PUBLIC RELATIONS
During the development of real estate projects especially in changing phase for instance destruction or new building is frequently focused through public interest. Additionally, their main purpose to inform the public and also make sure the public shows understanding and confidence in the project
INTERNET MARKETING FOR REAL ESTATE
Electronic media has played a vital role in real estate marketing. Furthermore, publicizing through the “World Wide Web” remains more and more popular. Organizations can signify themselves every time so that there is a chance to win a better image for the reason that there are no opening and closing times
As per the report “National Association of Realtors” through all demographics, of “home buyers” initial step in home buying method is searching online. However, that’s the reason for a well-designed website, in addition, a thoughtful social media marketing strategy for your real estate business is compulsory. “Additionally 90% of home buyers searching online (NAR 2012 Profile of Home Buyers and Sellers). Furthermore, 100% of home shoppers used the internet to research a specific home. (NAR 2012 Profile of Home Buyers and Sellers)”
MOBILE OR BUST
More than half of male and female buyers used a mobile device during their home search. Among those who did, 31 per cent of Gen Y and 26 per cent of Gen X found the home they ultimately purchased via a mobile device. (NAR Home Buyer and Seller Generational Trends Report 2015)
TIPS FOR REALTORS ON INSTAGRAM AND OTHER SOCIAL MEDIA
- Use Instagram stories
- Take nice looking images and also 15-second videos.
- Add filters
- Informative captions
- Tag your images with the correct location so people can find them
Content Marketing with Clients in Mind
Content marketing is used to for the purpose of sharing of online material for instance “videos” “blogs” and social media posts. Moreover, this material is used for the product, brand services, and build a healthy relationship among consumer and the business.
How can the idea of content marketing be applied to generating sales for real estate professionals? Some of the examples are listed below
- Questions about buying a house
- Questions about selling a house
- Questions about financing
Answer of these questions in term of social media, and blog posts. People visiting your website will read your answers and start to view you as an authority and expert.
WEBSITE DESIGN
“Website design plays a vital role in turning those visitors into leads. Furthermore, for realtors who want to generate leads for real estate online, it’s crucial that their website’s design is beautiful and professional. After all, when someone is thinking about buying a home, they want to imagine a beautiful and happy place. Make your website reflect those feelings”
FUTURE ASPECT OF OVERALL REAL ESTATE INDUSTRY IN TERMS OF POPULATION
In future, fast-growing countries cities such as “Asia” “Africa” “Middle East” and Latin America will be well in progress. On the other hand, some centres of wealth creation in a multipolar world, others are likely to fail. Global construction output in future almost US$15 trillion, in addition, emerging markets in Asia will become the fastest growing region and Africa in the future second fastest growing expected region.
WORLD URBAN POPULATION from 1950 TO 2050
URBAN AND RULER POPULAR TRENDS
According to “China” “India” and the Middle East, whole new cities will be constructed, via eco-efficient technologies in the direction of reducing their environmental influence. Governments and investment society coordinate to fund and build these cities “China” “India” and the Middle East, and their infrastructures. Furthermore, Masdar City in “Abu Dhabi” Jaypee Sports City, in “India” and Sejong City, in “South Korea” are the new cities. However developed cities are growing at a huge rate and London’s population, for instance, is forecast to rise to 10 million by 2031, up from 8.3 million today
GWADAR CITY OVERVIEW
Gwadar is a developed port city located in “Southwestern Arabian” seacoast of Pakistan. Furthermore, the headquarters of Gwadar district in Baluchistan as well. Additionally, its population is approximately 50,000. Deep-sea port of Gwadar develops as a place of great strategic value enhancing the importance of Pakistan in the entire region, extending from the Persian Gulf through the Indian Ocean to Southeast Asia and the Far East.
DEVELOPMENT IN GAWADAR PORT
Additionally, in 1993 the government of Pakistan started research for construction of a deep-sea port at Gwadar. After the research government of Pakistan began construction on 22 March 2002, and the initial phase which was finished in December 2005. Gwadar port become operational in 2009
“Gwadar development Authority” established in October 2003 and responsibilities of GDA department are listed below
- Implement the plans
- Provide no objection certificate to a public and private project
- Monitor public and private project on a regular basis
- Making GIS database for city development frequently.
GAWADAR REAL ESTATE
“Projects of Gwadar Port and coastal highway developed the real estate market of the District to such an extent that in a time span of 6 years Gwadar has emerged as the third real estate area for investment after Islamabad and Karachi. Massive trading of Billions of rupees has been in the real estates by Local and foreign investors. Investment has been done and still continues in areas of Gwadar, Jewani, Kalmat, Pasni, Guns, and Pishokan”
The land has been carried through private sector investors capitalizing in more than a hundred real estate projects. Furthermore, 95% of the property of “Gwadar” “Jewani” “Kalmat” “Kappar” as well as Pishokan zones is being taken through private sector investors otherwise being brought through government for potential establishment activity of Gwadar. However, Projects launched through private sector stakeholders in Gwadar include “Housing” “Recreational” “Commercial” and Industrial schemes. Additionally (Local Government) has presented two residential also commercial schemes which are Singhar, a housing scheme, in addition, Newtown housing scheme. Moreover, both the projects spread to four Phases by residential lots ranging on 400 square yards towards 1000 square yards. Furthermore, both projects have received an encouraging reply, in addition, more than 95% of plots have been taken owned through private individuals. However, the list of private projects which offer plots also a lot of building and provide offices, flats, in Gwadar. Additionally, some of these projects are authentic also got NOC, from Gwadar development authority and selling as per rules and regulations of GDA but there are various projects which are not legal or sell more property in marketplace instead of land used for which they had NOC, from GDA, and mostly small-scale stakeholders became the effective of scam cases. Furthermore approximately 73 housing Projects, 15 industrial, and 6 commercial, 4 recreational projects which have got NOC from GDA
CHALLENGES
Most of the developers have been using the offline medium for marketing. However, developing from a big offline existence towards online lead generation has its implications. Maximum real estate Developers have no idea about the digital journey. Furthermore transitioning from generating the sales through traditional approaches of cold calling toward intensive integrated publicizing campaigns, in addition, biggest Challenge of Real Estate “Developers” face in Mumbai and determining what “Digital Business Strategy” guarantees a boost in high ROI?
On the other hand, another key challenge tackled by several property developers is that one chooses the right digital networks or Online Advertising Approach to drive the top quality lead which contributes to increasing their sales?
ANALYSIS
After a critical analysis of real estate market analysis certain dimension of Gwadar projects, it has been analyzed that 70% of individuals interested in the public sector for investment for the reason that it is a remote zone and people have no idea about the area so most of the individuals can only depend on the public sector in such cases. However, the other group who is interested to make their own projects or bungalows in Gwadar. Furthermore, people who are taking interest in plots 76.05% are residents of Karachi, 17% residential of Punjab and 5% residential of Gwadar. As per our real estate market analysis research, 52.9% of the investors gain information through social media about real estate also 17% visited the area although 23% from real estate dealers and 5% from the internet. Furthermore, for investing in this zone 58% of individuals want to capitalize just for the futuristic point of view in addition 41.11% said that plots are reasonable according to their range.
The figure shows that participants were requested whether they have visited Gwadar city or not. Furthermore, the above-mentioned figure depicts that 52.9% of people visited Gwadar. Additionally, 47% who didn’t visit is mostly due to political fear in the area or it is far away, less developed and a shortage of time
“This figure shows that current preferences of individuals in the existing condition of real estate market analysis of Gwadar that 52% people are interested to buy a plot from Real Estate dealers but 41% said they will buy plot through the internet if they will get a chance. Who preferred internet 23.52% of them said that everyone can get a chance to invest in real estate of Gwadar through internet and 35.29% said as it is a remote area there won’t be any need to visit the area, other 35.29% didn’t respond this question, while 5% claimed that how one can rely on internet. When they were asked what can internet be a safe mode of investing in Gwadar then 41.15 said yes it can be a safe mode of investment and 58.82% said, no it can’t be, because if the whole process would be given in the hands of real estate dealers they may cheat more to the people”
PAKISTAN RETAIL MARKET REVIEW
Lahore Retail market
Lahore is famous for the first point of entry in Pakistan by international brands; local brand “Hyper star” “Next” and Hardees etc. opened their first store in Lahore. Generally, high-quality malls have great occupancy in comparison mostly due to their contribution for better quality development, facilities and services that support the overall growth and which suits the international brands.
ISLAMABAD RETAIL MARKET
Currently, Islamabad lacks the traditional shopping malls as there is no shopping mall in the city Furthermore its retail supply in each retail centres which are established in each sector. In addition, these centres are recognized as Markaz consist of 2-3 floors of commercial plazas or as standalone stores, for instance, Centaurus, and Safaa Mall
MARKET OUTLOOK
Pakistan has viewed moderate enhancement in demand for local brands such as “Khaadi” “Nishat” “Linen” and many other franchises enhancing their retail footprint. Furthermore, from the past five years, we have seen that an increase in brands such as “Gloria Jeans” “Hyper star” “Debenhams” Mango etc.
Zameen solutions are a Real-Estate marketing company provides numerous services to the people, such as builders and creative designers, in addition, Zameen solutions also offers a variety of strategic marketing and selling solutions. However, from the beginning assessment method of the scheme to the final marketing strategy, the company play a major role in terms of assistance are likely to be the selection of project planning and development of peoples. With their assistance company generate a superior rate of return to buyers and also provide ethical consultant services to the builders and developers remain the central theme of the organization
TWO IN ONE EDGE APPROACH
Zameen solutions are one of the major platforms of real estate marketing group of Pakistan which offer various services for instance: digital marketing, advertising consultancy simultaneously. Some of the projects of Zameen solutions are shown in mentioned fig.
MEDIA AND PR POWER
Zameen solution expertise in brand creation through media and taking help of most reputed journalist of Pakistan and PR and media campaigns are handled. Following strategies that play an effective role in media and PR power are shown in the mentioned figure
EVENT GATHERING
Zameen solution offer even gathering which include “seminars” “Media briefings” “Hi-tea events” “entertainment events”
DIRECTLY CONVERSATION TO BUYER
Zameen solution has the ability of directly taking the conversation to the consumer and also one major real estate company of Islamabad which plays a paramount role to communicate directly talk with buyers with a database of the number of satisfied buyers and keeps them informed about the pace of development.
