Demographics

What are demographics? 

Demographics refers to information about groups of people, such as their age, gender, where they live, or their income. It helps potential buyers or sellers understand populations and their characteristics. 

Why are demographics important in real estate? 

Demographic factors are essential in real estate because they can help predict future market trends which is useful for both buyers and sellers. For instance, a growing population in an area signals potential opportunities as it means more potential buyers. 

Additionally, observing changes in sudden oversupply of commercial or retail spaces in a particular area, may lead to increased competition and downward pressure on rental prices. 

What are some ideal demographic factors to consider when buying? 

When buying a property, it's a good idea to consider demographic factors such as employment opportunities in the area, proximity to schools, transportation infrastructure, and amenities like parks, shopping centres, and restaurants. These factors can positively influence property values, demand, and market dynamics.