How do you conduct market research and analysis for your target location and audience?

I like to invest in the county that I live. This way I know the towns and city’s very well, the areas to avoid, the areas that work well. I know the demographics and tenant type and can be a short drive to any potential deals that come up to secure them nice and quickly!

É preciso olhar para o futuro! Os projetos imobiliários tem um ciclo longo e entender quem são e o que estes potenciais compradores precisam é fundamental. Sua composição familiar, renda, hábitos, interesses... É possível usar entrevistas primárias (com empresas especializadas) ou mesmo usar dados secundários como do IBGE, sindicatos, associações e outros. Fato é que para o teste de produto em um empreendimento em particular será necessário usar pesquisa de demanda para avaliar a localização, preços, tamanho das unidades, o que tem de áreas comuns e o conceito do empreendimento. O levantamento da oferta em alguns casos é interessante, principalmente em mercados muito concorridos. Se o produto é inovador não se faz necessário.

Market research involves understanding your goals and identifying your target audience, learning about them through surveys, interviews and online tools. Check out the competition, know their strengths and weaknesses and stay updated on industry trends. Consider the local market conditions, economic factors and cultural aspects of your target location. Analyse the costs and potential returns on investment, using prop-tech tools for efficient data processing. Seek feedback from customers and industry experts and keep adapting your strategies based on what you learn. It's an ongoing process to stay informed and make smart business decisions.

Do not forget about the Future Supply!! Your new project will compete against this possibly more than what exists currently…….

Accurate market research requires site visits to the competition. Sales or rental pricing is important as are features and amenities. Even more important is the physical condition of the property and its immediate surroundings. A great project in a marginal location or a bad project in an A+ location may not be a real comparable.

Great article—while traditional methods in real estate investment have value, they often overlook the potential of data science. By using data science and quantitative analysis, we can extract insights from vast property and market data, leading to more informed decisions. Predictive models could enable us to anticipate trends and mitigate risks. To fully harness this potential, the industry needs to embrace data science as a game-changer, not merely a supplement. It can revolutionize investment strategies, maximizing ROI and competitiveness.

I would enjoy this generated article more if it included case studies or real-world examples of how the application of the steps were applied and the results from it.