Property Prices: what are the factors to consider?

Real estate is regarded as one of the most viable investment options in most parts of the world. The reason for this is that when you compare the ever-increasing global population, and the finite quantity of landed resources, investors who are prudent enough to acquire landed property at the right time are more than likely to sell at a higher price in the future demand will continue to outstrip supply. While this principle is simple enough, there are some circumstances under which the general trend may not apply. There are other factors at play in determining the level of value appreciation or depreciation that a piece of property may experience over time. Here are some factors that may affect property prices:

Demographics:

The age, cultural background, income level and marital status ofpeople that make up a particular location can change over the course of time. This change can make a location more or less desirable for potential inhabitants, hence affecting the value.

Infrastructure

The availability of infrastructure such as transportation systems, communication networks, drainage and electrical systems, as well as access to markets, recreational centers and business district can transform less desirable areas to prized locations.

Interest rates

Changes in interest rates can greatly influence the decision to purchase property. Mortgages enable potential property owners to secure their desired assets with manageable payment plans thus sharp changes in interest rates attached to mortgages can influence the decision to enter into such arrangements.

The Economy

Economic indicators can provide an insight to the health of the property sector in any country. Where there is high unemployment, low capacity to manufacture, and general inflation, there is bound to be a knock-on effect on the level of activity in the real estate sector.

Government Policies

Waivers, taxes and subsidies are some tools with which government regulates the property sector. Governments that make intentional efforts to boost demand for property can fast-track the growth of the real estate sector.

Conflict

The ability of potential property owners to secure their lives and property within a location is a critical factor in determining whether they would be likely to make a purchase. Civil, regional and political conflicts can significantly reduce demand for property within affected areas.

Technology

The Covid-19 pandemic has boosted the work-from-home culture. Experts believe that in future, more businesses will adapt to this system, and consequently, many highly coveted business districts will have vacant office spaces, as remote work becomes more common practice. In future, technology could become an increasing factor in every aspect of human existence, including real estate.

Climate Change

With the increasing effects of climate change, coupled with the rise of disasters such as floods, landslides, erosion, famine, deforestation and desertification, areas previously in high demand could lose their value or even cease to exist. It is virtually impossible to mitigate against all risks associated with acquiring property. However, an understanding of the trends as well as some inside information can provide a guide for real estate investment.

Creating A Home Office: A step by step guide

It’s 2022, and the world is still dealing with a pandemic. The Coronavirus-19 outbreak of late 2019 has proven to be one of the most significant events of the last century. It has affected us in ways that we never imagined; one of these is the rapid increase in remote working practices. Previously, the idea of working from home was viewed less favorably and the lack of physical presence was seen to be a hindrance to proper collaboration and bonding between working teams. However, in 2020, people all over the world were forced to find ways to be productive while holed up in their homes during quarantine. The unintended consequence of this is that working from home has become part of the norm in today’s work environment.

So how can one ensure peak productivity while working from their home? It’s all about creating a space that allows you to do your best work. Here are some tips to help you do just that:

Avoid working from your bed or couch

As tempting and “comfortable” as this may seem, it can cause harmful long-term effects such as insomnia, bad posture, heart disease, and weight gain.

Set it up

Get a desk and chair of the right type, light, and other things you need for work. Sit upright while working for maximum productivity.

Create a study room

If you are fortunate to have a room in your home that isn’t being put to good use, consider converting it (or a part of it) to your office away from the office.

Set a routine

Create specific periods for work. If people around you understand that you are busy within certain periods, they will be less likely to interrupt.

In the absence of a study room, create a workspace

Find a corner in your living room or bedroom where you are less likely to be disturbed. Make sure that it is clean, devoid of clutter, and properly ventilated with plenty of light.

Use ambient sounds

Research shows that ambient sounds improve productivity, creativity, concentration, and mood. However, if you work better in a completely quiet environment, feel free to do what works best for you.

Working from home provides a sense of flexibility that could in the end prove beneficial. It eliminates time and resources spent in commuting, provides the opportunity to spend valuable time with loved ones, and also separates one from potentially toxic working environments. However, there is a possibility of being out of touch with the outside world. People who work remotely for extended periods tend to find it difficult to return to physical office due to bad work habits formed during remote work. It is important to maintain healthy work ethics while navigating the new work-from-home culture, thrust onto us by the pandemic. Communication is key. Consciously ensure that you are reachable. Have a functional internet connection. Use tools like Zoom and Skype to keep face-to-face communication with your colleagues or customers going. And finally, step out once in a while and interact with the world in real-time. It will do you a world of good.

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MISA Nigeria Limited is an integrated real estate and property development company specializing in the construction and delivery of high-quality bespoke housing. We also offer sales and lettings services, facility management and real estate advisory services (planning approvals, conveyancing and others).

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