For many people in the real estate area and buyers, there is uncertainty regarding the critical points to take into account that in one way or another, they can impact the market. Next we will review some of the most relevant issues that affect the real estate business:
Demography
From a general perspective, the target audience to which each real estate company is directed, finds great relevance in data such as age, sex, income and the academic level of people. This affects the tastes and preferences of adult generations such as “X” and also of young people who are in the process of reaching adulthood, known as the “Y” generation or millennials. Acquiring the knowledge of these generations will be important when creating marketing strategies to know who is being sold and how to do it correctly.
Economy
You have to pay close attention to the economic changes that the country is going through, especially in the IVA topíc because it can lead to concern in rising real estate prices.
There is a misinformation regarding the effects of IVA on the purchase of real estate. Banking has very good conditions at the moment, the lowest rates in recent years. In addition there has been no increase in sales prices, so those who buy right now will gain surplus value.
Juan Álamo, Manager ConstruReal
In addition, the interest rates offered by banks are an issue to consider when choosing the one that best suits your income and in which the loan payment does not suffocate your life routine to maintain a balance in your economy.
Policy and legislation
From the recent approvals that have been with the Costa Rican laws and changes in the panorama with respect to these factors, it can be appreciated with the Law of Strengthening of Public Finances and the regulation of the Law on Value Added Tax. We must also pay attention to the Income Tax Law, whether in the lucrative activity as an advisor or company in the sector and what it constitutes. These laws can generate doubts about the real estate business, so it is essential to use the services of a professional in the area and that can clarify the corresponding concerns.
Market trends
This goes hand in hand with the generational change that the country is going through, influencing the tastes of people interested in buying a home as well as the debate about whether it is better to rent or buy. It is necessary to pay attention to the most sought-after areas of interest by the inhabitants as well as the attractiveness that can be offered, for example at the level of entertainment in the area, restaurants and coexistence.
Finally, we must constantly update on these various factors that have an impact on the market, also to know correctly the way to communicate with the audience to which it is addressed.
