20
- June
2017
Posted By : Solly Assa
Comments Off on Assa Discuses the Most Important Factors of a Good Location
Assa Discuses the Most Important Factors of a Good Location

Real estate plays an important role in the economy, and its development has a significant impact on the financial system. Previous financial crises have thought us that unsustainable trends in the real estate market can have serious consequences on the global financial stability, and the economy as a whole. In the past, unfavorable real estate developments in both residential and commercial real estate, have led to some major losses, and have left a negative impact on the real estate economy.

good location

 

Because the real estate sector has a direct impact on the wealth of property owners and tenants, as well as their spending habits, it is considered as one of the most important sectors of the economy. Investing in real estate can be rewarding if you understand the subjective factors that determine a property’s value. Among them, location remains the most important factor for profitability in real estate investment. As the founder and CEO of a diversified real estate development and acquisitions company, Solly Assa has guided multiple projects across the United States and Mexico. His houzz portfolio has been focused mainly on residential and mixed-use projects. In his experience, location has always been a key element of his real estate activities and has turned out to be a critical success factor. When purchasing land, or looking at residential properties, you should start by evaluating the location. Here Mr. Solly Assa offers a few tips that can help you with the process.

Analyzing the real estate market requires an understanding of the local preferences, types of local communities (block, street, building, and borough), outline, services and price trends. Each of the above-mentioned categories may vary according to size, design, the number of stories, price and rent.

Every market analysis starts by identifying and exploring the community features of the area where they’re planning to build the development project. Such research is focused on the number of people living alone or in households, and any current or expected changes in the economic power of the population and their employment. Once you conduct a thorough analysis of the district, you need to research the city or the county. It is necessary to collect data on the population, households, employment, needs for housing and development activities, the regulation of local authorities, forms of public transport, local schools and other service sectors. According to Mr. Assa and a research conducted with Educause.edu, usually, 50-75% of all newly built apartments are sold to the local population. However, there are some exceptions. Namely, in some fast-growing cities that attract a large number of immigrants, there is a high probability that the percentage will be much lower.

When it comes to valuation of property, it is important to look for the following things: available and effective public transport, proximity to amenities like schools, hospitals and other public infrastructure, peaceful conforming areas, and so on. If your neighborhood evolves, the value of your property will also climb.