No one disputes that the real estate market is affected by supply and demand in one way or another, but there are multiple factors that guide the behavior of the consumer “property buyer” who is looking for a residential apartment or villa to move into with his family members, whether moving from outside the city to a new city or from renting to making the decision to own.
Property pricing plays an important role in that real estate cycle. Some developers base their pricing on high profitability in exchange for high quality, or the opposite with other developers, as a high price in exchange for average quality. This would slow down the sales movement of their projects. There are other factors that directly affect demand, such as the location of the property and what it provides in terms of economic opportunities, services and facilities around it. The more attractive the city is, the higher the competition for its prime locations. This is a natural phenomenon that reflects the difference in value between locations in the city and even in the same neighborhood.
It is not expected that the prices of properties close to major business and service centers will be equal to the prices of properties located in less-demand areas or far from services. The price, in its essence, carries indicators of scarcity and quality, but they are not the only ones. The level of demand and the opportunities provided by the location are not based solely on the advantages provided by the developer in the project ( such as a sports club or a cinema …), but rather on what that property represents in terms of value that increases over the years, meaning that it is a long-term investment. Therefore, it is necessary to take into consideration that highlighting the future advantages of those projects is one of the most important elements of marketing them.
@MounesShujaa
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