The Growing Real Estate Potential in the Dominican Republic
The Dominican Republic is increasingly consolidating its position as a top tourist destination in the Caribbean, with a remarkable 92% of tourists surveyed expressing a desire to return, according to recent data from the Ministry of Tourism. This high level of satisfaction not only highlights the strength of the tourism sector, but also presents an excellent opportunity for real estate development in the country. An Expanding Market Between January and July 2024, more than 248,000 surveys revealed that 80% of tourists want to repeat the activities they enjoyed on their visit. Activities such as exploring Saona Island, snorkeling, and visits to the Colonial Zone are particularly popular. These results underscore the need for quality infrastructure that can sustain and enhance this growing demand. Housing Opportunities Seventy-eight percent of tourists chose to stay in hotels, and an impressive 96% of them are willing to repeat their choice of accommodation. This underscores the importance of continuing to invest in the development of hotels and resorts in key destinations such as Punta Cana, Santo Domingo and Puerto Plata, which account for the majority of visits. Noriega Group: Powering Real Estate Growth Noriega Group has the opportunity to lead real estate development in the Dominican Republic, creating projects that respond to the growing needs of the tourism sector. Investment in new hotel and residential developments in high demand areas is not only viable, but also strategic to capitalize on the continuous flow of satisfied tourists. Social Networks and Gastronomy as Catalysts The impact of social media is significant, with 57% of tourists influenced by platforms such as Instagram in their decision to travel. In addition, local cuisine is another strong point, with 85% of visitors reporting a positive dining experience. Integrating these elements into the development of new properties can be key to attracting an even wider audience. Tourism in the Dominican Republic is booming, and with such a high rate of return, it is the perfect time for Noriega Group to boost its growth in the real estate sector. With the right strategy, projects can be created that not only meet current demand, but also set a new standard in the country’s tourism offerings. This data is supported by the official source of the Ministry of Tourism of the Dominican Republic, which reaffirms the validity of these opportunities. Dominican Republic: Tourism and Real Estate Promotion President Luis Abinader highlighted in his inaugural speech the impressive growth of tourism in the Dominican Republic, which in 2023 reached more than 10 million visitors. This figure is expected to exceed 11.5 million by 2024, consolidating the country as the second most visited destination in Latin America. This growth represents a strategic opportunity for Noriega Group, especially in key destinations such as Punta Cana and Santo Domingo, which are leading tourism demand. In addition, with the expansion of infrastructure, including new ports and airports, the potential for real estate development is immense. Expanding Infrastructure Projects such as the duplication of the Punta Cana airport and the new international airport in Pedernales reinforce connectivity, creating a favorable environment for tourism-focused real estate investments. With a booming tourism sector and an ever-expanding infrastructure, the Dominican Republic offers an ideal scenario for real estate growth. Noriega Group can capitalize on these opportunities by developing projects that respond to the growing demand of an increasingly robust tourism market. – DO YOU HAVE ANY DOUBTS? Write to us and we will attend you without obligation
How to incorporate ESG criteria into your real estate investment strategy
In the investment world, ESG (Environmental, Social and Governance) criteria have become a determining factor in measuring the sustainability and ethical impact of an investment. The adoption of these criteria not only responds to a growing demand for corporate responsibility, but also represents a smart strategy to mitigate risks and ensure long-term profitability. In the real estate sector, ESG criteria are transforming the way projects are developed and managed, promoting sustainable practices that benefit both the environment and society. Article objectives: This article aims to provide a practical guide to integrating ESG criteria into real estate investments. We will explore how to evaluate, plan and implement ESG strategies, and discuss financing options and profitability analysis for these projects. Understanding ESG Criteria Definition of each criterion: Environmental (E): Refers to practices that affect the environment, such as energy efficiency, use of sustainable materials and reduction of carbon emissions. Social (S): Involves aspects that impact people and communities, such as equity, accessibility and working conditions. Governance (G): Related to ethics and transparency in business management, including good governance practices and corporate responsibility. Examples of application in the real estate sector: Environmental: Implement renewable energy systems, obtain certifications such as LEED or BREEAM, and use recycled materials in construction. Social: Ensure accessibility for people with disabilities, create community spaces and promote diversity and inclusion in management. Governance: Maintain transparency in operations, ensure ethical practices and compliance with local and international regulations. Benefits of adopting an ESG approach: Incorporating ESG criteria can improve a company’s reputation, attract conscious investors, reduce legal and environmental risks, and improve long-term financial sustainability. Evaluation and Planning ESG assessment of properties: Conducting an ESG assessment involves analysing the environmental, social and governance impact of an existing or potential property. This includes reviewing energy consumption, the sustainability of materials used and management practices. Tools and methods for measuring ESG impacts: Certifications such as LEED (Leadership in Energy and Environmental Design) and BREEAM (Building Research Establishment Environmental Assessment Method) are useful tools for assessing the environmental performance of buildings. These certifications provide a framework for measuring and improving the ESG aspects of properties. Planning for improvements and adaptations: Once the assessment has been completed, the necessary improvements to comply with ESG criteria must be planned. This may include upgrading lighting systems to LED, installing solar panels, or implementing corporate social responsibility programs. Implementation of ESG Strategies Environmental strategies: To integrate environmental aspects, investors can focus on improving the energy efficiency of buildings, reducing carbon emissions, and using sustainable materials in the construction and renovation of properties. Social initiatives: Social initiatives can include ensuring that real estate projects are accessible to all, promoting equity and benefiting local communities through the creation of public spaces and collaboration with community organizations. Good governance practices: Implementing good governance practices involves ensuring transparency in all operations, adopting codes of ethics and complying with all relevant regulations. This may also include implementing diversity and inclusion policies within the company. Financing and Profitability of ESG Strategies Financing options for ESG projects: There are several financing options for projects that integrate ESG criteria, including green bonds, sustainable funds and loans with preferential rates for green projects. ESG Investment Profitability Analysis: Projects that adopt ESG criteria not only benefit the environment and society, but can also offer higher long-term profitability. Investing in sustainability can reduce operating costs, increase property values, and attract a greater number of tenants and investors. Case studies: Numerous successful projects demonstrate that integrating ESG strategies can be highly cost-effective. For example, buildings that have obtained LEED certifications have not only improved their energy efficiency, but have also seen an increase in their market value and increased demand from environmentally conscious tenants. We encourage all investors to consider adopting ESG strategies in their real estate investments. Not only is it an ethical and responsible decision, but it is also a smart strategy to ensure long-term profitability and sustainability. Consult with a financial advisor to explore how you can integrate ESG criteria into your investment portfolio and contribute to a more sustainable and equitable future. – DO YOU HAVE ANY DOUBTS? Write to us and we will attend you without obligation
Private Investments leading the Dominican Republic’s Tourism and Real Estate Sectors
A tropical paradise known for its stunning beaches, rich cultural heritage and warm hospitality, the Dominican Republic has long been a favourite destination for travellers seeking a memorable holiday experience. In recent years, the country’s tourism sector has experienced remarkable growth, attracting significant private investment in the real estate and hotel sectors. With its diverse landscapes ranging from white sandy beaches and lush rainforests to majestic mountains, the Dominican Republic offers a wide variety of experiences for tourists. The country’s vibrant culture, infused with music, dance and delicious cuisine, adds to its charm. As a result, the Dominican Republic has become one of the Caribbean’s top destinations, attracting travellers from all corners of the world. Over the last decade, the Dominican Republic has witnessed an unprecedented increase in tourist arrivals. This increase in numbers can be attributed to several factors, where the country’s government has been proactive in promoting the destination as a safe and welcoming place for visitors, instilling confidence in both tourists and investors. Private Real Estate Investments Recognising the immense potential of the Dominican Republic’s real estate market, private investors have been investing capital in the development of various properties. Luxury resorts, condominiums and residential projects have been springing up along the country’s picturesque coastline. These investments not only cater to the growing tourist demand but also to the growing interest of foreigners to own holiday homes or retirement residences in the country. Challenges and opportunities While the Dominican Republic’s tourism sector is experiencing unprecedented growth, it is not without its challenges. One of the main concerns is the need to maintain the delicate balance between tourism development and environmental conservation. In addition, ensuring the welfare and fair treatment of local communities in the face of increased tourism remains a priority. In addition, global uncertainties, such as economic fluctuations, pandemics and changing travel trends, pose risks to the industry. However, by adopting innovative approaches and embracing technology, the Dominican Republic can seize opportunities to remain resilient and competitive in the ever-evolving global tourism landscape. The Dominican Republic’s tourism sector continues to shine as a beacon of success in the Caribbean. With its diverse attractions, warm hospitality and commitment to sustainable practices, the country has succeeded in attracting private investment in both the real estate and hospitality industries. As the tourism industry thrives, it is essential that stakeholders work hand in hand to ensure its long-term prosperity while preserving the country’s natural beauty and cultural heritage. With strategic planning and a focus on sustainability, the Dominican Republic is poised to remain the best choice for travellers seeking an unforgettable tropical getaway.
How artificial intelligence can revolutionise the way you choose your next home
The real estate industry has undergone a remarkable transformation in recent years, with technological advances playing a pivotal role in the way people buy homes. One such revolutionary technology that is changing the game is artificial intelligence (AI). Traditionally, finding the perfect home required hours of searching through listings and viewing properties that may or may not meet your requirements. AI-powered platforms are changing this tedious process by offering personalised property recommendations based on your preferences, budget and lifestyle. By analysing large amounts of data, AI algorithms can identify patterns in your search behaviour and suggest properties that align with your unique needs. From number of rooms and amenities to preferred location, AI narrows down the options, saving you valuable time and effort. Smarter virtual tours of the property In the digital age, virtual property tours have become increasingly popular. AI takes this experience to the next level by offering smarter, more immersive virtual tours. Using advanced computer vision and machine learning techniques, AI can create detailed 3D models of properties, allowing potential buyers to explore every nook and cranny from the comfort of their own homes. In addition, AI can answer questions about the property in real time via chatbots, providing instant information and clarification to interested buyers. This not only enhances the home buying experience, but also allows remote buyers to make informed decisions without physically visiting the property. Predictive price analysis AI-powered predictive analytics is a game-changer when it comes to property pricing. By analysing historical sales data, local market trends and economic indicators, AI can accurately estimate the fair market value of a property. This allows buyers to make well-informed offers and negotiate with confidence, while sellers can set competitive prices that quickly attract potential buyers. In addition, AI can identify properties that are likely to increase in value over time, helping investors make strategic decisions that align with their long-term financial goals. Simplified documentation and transactions The home buying process involves a lot of paperwork and complex transactions. AI simplifies this by automating document preparation, verification and secure digital transactions. This not only reduces the potential for errors and delays, but also ensures a smoother and more secure closing process for all parties involved. In addition, AI-powered tools can help buyers understand legal jargon and contractual terms, ensuring that they are fully aware of their rights and responsibilities. The integration of artificial intelligence into the real estate industry is transforming the way people find and buy their dream homes. With personalised property recommendations, smarter virtual tours, predictive pricing analytics and simplified transactions, AI is improving the home buying experience, making it more efficient and transparent for both buyers and sellers. As AI continues to advance, we can expect even more innovative solutions that will further revolutionise the real estate market. However, when embracing technology, it is essential to strike a balance between AI-driven efficiency and the personal touch that makes buying a home a truly emotional and satisfying experience.
Rental properties: A way to boost the wealth of absentee Dominicans
In recent years, the sharing economy has revolutionised the way we travel, with Airbnb leading the way. Beyond offering travellers unique and affordable accommodation options, Airbnb has also opened up an exciting investment avenue. For Dominicans living abroad, investing in property has become a lucrative opportunity to increase their wealth and contribute to the growth of the country’s tourism industry. The rise of Airbnb in the Dominican Republic As one of the most sought-after tourist destinations in the Caribbean, the Dominican Republic has experienced a significant increase in tourism over the years. This increase in visitors has been met with a corresponding demand for alternative accommodation, with travellers increasingly preferring the personalised experience of staying in local neighbourhoods rather than traditional hotels. This shift in consumer preferences has catapulted Airbnb to prominence in the Dominican Republic, offering property owners a tantalising opportunity to capitalise on this growing trend. Benefits of investing in Airbnb properties Rental income and ROI: One of the most attractive aspects of investing in Airbnb properties is the potential to generate substantial rental income. By taking advantage of the country’s thriving tourism industry, absentee Dominicans can enjoy a regular stream of rental income that can contribute significantly to their financial goals. Flexibility and control: Unlike traditional long-term rentals, Airbnb allows owners to have more control over their investment. They can choose when to rent the property, set their rental rates and manage bookings based on their personal preferences. Wealth diversification: For Dominicans living abroad, investing in Airbnb properties in their homeland presents an excellent opportunity to diversify their investment portfolio. Real estate can act as a hedge against market volatility and add a layer of stability to their overall financial situation. Opportunity for personal use: Investing in an Airbnb property in the Dominican Republic not only provides a potential income stream, but also offers the opportunity for personal use during visits to the country. Owners can enjoy their property during holidays, family reunions or while visiting friends and family. Considerations and challenges Property management: Distance can pose challenges when it comes to managing an Airbnb property remotely. Involving a reliable property management company or a trusted local contact can help ensure smooth operations, such as record keeping, cleaning and maintenance. Legal and regulatory compliance: It is essential for investors to familiarise themselves with local laws and regulations regarding taxation and short-term rentals. Ensuring compliance with these rules will help to avoid potential legal problems and penalties. Market research: Before making an investment, it is crucial to conduct thorough market research. Understanding the demand for short-term rentals in the chosen area, analysing comparable rental rates and assessing potential competition will inform a well-informed investment decision. For Dominicans living abroad, investing in Airbnb properties in the Dominican Republic offers a golden opportunity to participate in the country’s thriving tourism industry while generating wealth and diversifying their financial portfolios. The growing popularity of Airbnb accommodations and the country’s appeal to travellers make this investment avenue particularly attractive. However, it is essential that investors approach this opportunity with careful planning, thorough research and a sound property management strategy. With the right approach, investing in Airbnb properties can be a win-win situation, benefiting both the investor and the growth of the Dominican tourism sector.
The art of real estate investment: how to get started and reap the rewards
Real estate investment has long been regarded as a profitable venture, offering potential for wealth accumulation, passive income and asset diversification. As the saying goes, “Don’t wait to buy real estate; buy real estate and wait“. Whether you are an aspiring investor or someone looking to grow your financial portfolio, it is crucial to understand the fundamentals of real estate investing. Understanding real estate investment Real estate investment involves buying, owning, managing and profiting from property. There are several ways to invest in real estate, each offering different levels of risk and return: Residential properties: This type of investment consists of buying properties such as houses, flats or condominiums and leasing them to tenants.Commercial properties: Investors can buy office space, retail shops, warehouses or other commercial properties and lease them to businesses. Real estate investment trusts (REITs): A REIT is a company that owns, operates or finances income-producing real estate. Investors can buy shares in REITs, which provides the opportunity to invest in real estate without directly owning the property. Crowdfunding inmobiliario: Esta opción relativamente nueva permite a los inversores juntar su dinero para invertir en proyectos o propiedades inmobiliarias específicas. But… How to start? Educate yourself: Start by learning the basics of real estate investing. Read books, attend seminars and follow reputable websites or blogs on the subject. Set financial objectives: Define your investment objectives, whether they are long-term wealth creation, passive income generation or both. Build a solid financial foundation: Make sure you have a stable financial situation with little or no high-interest debt and an emergency fund before delving into real estate investment. Selecting the right property: Research the real estate market to identify properties that fit your investment strategy. Factors to consider include location, property condition, appreciation potential and rental demand. Financing options: Explore various financing options, such as mortgages, loans or partnerships, to acquire the property. Property management: Decide whether you will manage the property yourself or hire a professional property management company. Legal and tax considerations: Familiarise yourself with local laws, regulations and tax implications related to real estate investment. Benefits of Real Estate Investment Appreciation potential: Historically, real estate has shown a tendency to appreciate over time, providing investors with the potential for capital gains. Steady income stream: Rental properties can provide a reliable source of passive income, which can help cover expenses and generate positive cash flow. Tax advantages: Real estate investors can benefit from various tax deductions, including mortgage interest, property taxes and depreciation. Diversification: Real estate can serve as a diversification tool in an investment portfolio, which helps reduce overall risk. Hedging against inflation: Real estate values and rental income often rise with inflation, providing a hedge against its negative effects. Control over investment: Unlike other investments, real estate allows investors to have a certain level of control over their assets, such as property management and value-added improvements.
Protech and Real Estate Collaborative Participation Platforms
Latin America and the Caribbean have the highest proportion of city dwellers in the world, according to research by the Inter-American Development Bank (IDB). The real estate market has reinvented itself in recent years thanks to technological innovation and digital transformation in some of its processes that bet on the development of this industry with the inclusion or optimization of common processes in this market. Protech, technology in favor of real estate development Proptech is an acronym for “Property + Technology” and refers to ventures or startups that offer innovative products for the real estate industry or new business models that seek to transform it. Some examples of this industry are software such as Rightmove, Opendoor or Zoopla; as well as other hardware, materials or manufacturing tools such as 3D printing. In addition, Proptech embodies the transactional side of the property industry, and at its extremes touches on FinTechs, construction technology and smart cities. According to Unissu, the certification platform for Proptech companies in Latin America, there are 350 companies dedicated to developing projects of this type, which are divided as follows: Evolution from Real Estate to Crowdfunding Platforms Collaborative Participation Platforms (CPP) aim to encourage investors, entrepreneurs or individuals to contribute capital according to their income to develop real estate projects with great growth potential using Crowdfunding and Crowdlending systems. These trends are already present in some countries such as: United States, England, France, Spain, Canada and now it is the turn of Latin America. According to an article on the website ECIJA.com, Crowdfunding “seeks to raise financing through a plurality of investors with the objective of investing in a real estate asset for its rental and future sale“. While Crowdlending seeks to “raise a sum of money in order to grant a loan to a third party, which will be used for the purchase of land or the construction of a property, to obtain in turn a return on that investment, as a kind of bank loan composed of principal, which would be the amount invested, and interest, the remuneration that the investor would obtain“. Trends in Real Estate Technology for 2020 An article developed by TICBeat.com summarizes five technological trends that are turning upside down the Real Estate sector in Latin America and the world: Big Data Applied to real estate, Big Data allows individuals and companies to make informed decisions regarding investing, managing and operating based on such macro data analysis. For example, it can be used to provide information regarding property history, property cost, neighborhood details, mortgage payment calculation and even to forecast its future revaluation taking into account different parameters. Virtual Reality (VR) and Augmented Reality (AR) VR and AR applications are put at the service of a potential buyer who can now fully see a property even when it has not yet been built. There are companies specialized in offering 360-degree videos that allow to know in advance how the property will look like, and become a useful tool to increase the number of closed transactions. Chatbot Applied to the real estate sector, the development of algorithms and the chatbot tool has allowed the user to obtain the valuation of their home in two minutes and through the cell phone, a process that could take several weeks in an analogical way; this is what Jesús Pérez Picó, CMO of ProntoPiso, a company that has launched a chatbot service to value homes online, points out. Drones Drones are capable of reaching the top floors of large buildings and taking inspiring panoramic images of areas on any surface ranging from waterfront properties that make prospective tenants dream, to images of a single-family home and the neighborhood in which it is located. Blockchain Blockchain’s applications to the real estate industry are diverse. Some companies implement it to process rental payments, eliminating intermediaries and reducing transaction costs. Others use it to appraise homes or validate information before third parties, so that any user can use it in the different processes that require an official document, such as applying for a mortgage, with the consequent savings in time and costs.
How to Make an Effective Real Estate Prospecting?
Prospecting is the study of the future possibilities of a business taking into account the data available. Through this process, the real estate consultant converts his portfolio of contacts into money; although it is not always easy to achieve it, not using this tool diminishes the opportunity to talk to clients who have never been canvassed before, nor to recommend appropriate solutions for their needs, to sign a contract or to offer an excellent after-sales service. Paul Goldner points out in his book Red Hot, Cold Call Selling that a salesperson must put all five senses into knowing all the information about his buyers. “He has to study every file until he knows how to associate a person’s name with the name of the company to which he belongs. Many salespeople get stuck when they get a call from a prospect they’ve already spoken to because they didn’t memorize the information about that person when they first made contact with them.“ Goldner also says that understanding sales as a process rather than an event makes it easier to assume that “the no’s of today’s customers may be the yes’s of the future. Accordingly, a rejection should never be viewed as a refusal, but rather as extra information about a particular prospect that allows the salesperson to postpone that sale and then redirect his or her education process to those prospects who are ready and willing to buy now.“ In this regard, real estate coach Carlos Perez describes in his blog that every advisor should focus on helping and not just selling, offering advice through effective communication channels adapted to the lifestyle of buyers. On his website he exemplifies the implementation of this sales technique by sharing his experience with a Uruguayan real estate company that decided to write specialized articles for local newspapers and magazines, accompanied by a digital campaign in social networks, forums, related websites and the payment of advertising or Ads. 10 Commandments of Real Estate Prospecting 1st commandment: Prospecting is a process that requires discipline and demands dedication, so it is suggested to set a daily time for prospecting. 2nd commandment: Smart prospecting leads to calling only those prospects most likely to purchase large quantities of your product or service. 3rd commandment: The prospecting call should not last more than two or three minutes: it should include the presentation of the seller or product; it should serve to understand the real needs of the potential buyer and it should become the vehicle to get an appointment. 4th commandment: Identify the main customers and potential customers in your database and look for alternatives to continue capturing effective leads. 5th commandment: It is advisable not to take calls or attend meetings during the time of prospecting in order to try to perfect it as much as possible. Just like any other repetitive task, prospecting improves with prolonged practice. 6th commandment: There are more or less convenient times to make prospecting calls. For example, prospecting at lunchtime works well in the U.S., but not in Latin America, where people have long, traditional lunches. As for individuals, some are more receptive in the morning and others in the afternoon. In general, decision-makers often work overtime or after hours, plus their assistants, or those who separate a salesperson from his or her potential customer, don’t usually get in the way of those hours: hence, they should be fully utilized. 7th commandment: If it is not possible to contact a potential customer at a certain time of the day, a salesperson should learn from the mistake and try another time or another occasion. 8th commandment: Be organized and use some type of contact management software such as ACT or CRM to schedule calls or check the customer’s status. 9th commandment: You must think that the call will be successful before you make it and thus reinforce your self-confidence. Remember that prospecting is more resistant to rejection if the salesperson shows poise and that both confidence and enthusiasm are contagious and a buyer will always go for the individual who conveys them. 10th command: An essential element that adds value to a product or service is the stability of the company that sells it. When a customer buys a complex and expensive product from a certain company, it is in the customer’s interest that the organization survives for the life of the product in order to have the guarantee of after-sales service. 5 Techniques to capture more contacts Miriam Moral shares in an article for Urbaniza Interactiva a series of tips or tools that every real estate consultant should follow to increase the database of their contacts: – Use Inbound Marketing to your advantage. Think about your clients (Buyer Personas), reflect on their problems, needs, goals or objectives and create content on your website or on your real estate blog in which you give answers to those topics in different formats such as videos, infographics, live conferences, books or downloadable guides. – Don’t forget the power of word of mouth. Imagine that you have already managed to attract to your real estate website those people who are considering buying a home. However, they are still not entirely convinced that your real estate is the best choice. A page of testimonials from other customers explaining their buying experience, can be that little push they are missing to verify that your real estate is the best choice for them. – Add real estate portals to your channels of diffusion. These can provide you with a large number of contacts that in the short term can be very interesting. However, the contact acquisition will end once you stop paying for the contracted services, so you will also have to think about a long-term profitable strategy. On the other hand, the data obtained will not be exclusive, that is to say, they will be almost the same as those of your competitors. – Invest wisely in Online Advertising. One of the advantages of this type of advertising is
Luxury Real Estate: A World for the Uhnwi Sector
The luxury housing market is special, both in terms of the target and the expenditure it represents, but the concept of luxury has changed over the years, although some ideas have remained the same. For example, space or square footage is still a hallmark and green space is essential. Also important is security and the neighbors with whom the area where the property is located is shared. Without forgetting that in recent years new ideas such as energy efficiency or environmental awareness have been introduced. The reason is that the decision to buy a property of this type is based on lifestyle or investment objectives, rather than necessity. Despite the fact that these types of properties are approximately 3.4 times more expensive than average homes globally, according to the Luxury Defined 2018 report, selling them is much easier; the reason is that unlike average properties, whose costs are accessible to a larger number of people, clients in the super-luxury category are not very specific and, above all, do not have financing problems. Normally the investments of this type of properties are usually awarded to the economic stratum called UHNWI Ultra-High Net-Worth Individuals or better known as the Ultra Rich. According to the consulting firm Wealth-X, this group includes individuals with a wealth in financial assets between US $1 million and US $30 million, considering variables such as wealth levels of the country, population growth and investment opportunities in the future. According to a study prepared by global consulting firm Knight Frank at the end of 2018, among 600 wealth advisors managing more than $3 billion globally, indicates that “23% of Latin American investors consider investing in a luxury residential property in their home country between 2019 and 2020.“ While “57% of Latin American investors already own properties in their asset portfolio“, because this type of business provides protection against inflation, as well as the appreciation of the property in the long term. In this regard, Constanza Maya, a real estate specialist, assures that the current trend in this market “is a relaxed and more minimalist luxury, linked to materials, spaces and design. Technology also goes hand in hand with this change by introducing home automation and Artificial Intelligence to the formula. The times of gilding, opulence and the obvious are behind us“. How to sell luxury properties? The right price for the right house This is achieved through an appraisal or opinion of value in which the characteristics of the residence such as age, state of preservation, type of materials, design and location, among other aspects, are weighted. The idea is to take this appraisal as a price reference and qualify it with the information you have about your property to achieve the right value for money. Make the images speak for themselvesIt is suggested to hire a team of professionals in the audiovisual area to tell a story through quality images; these should show the essence of each space, the innovation of its structure and be accompanied by historical data or curiosities of the property or the geographical location in which they are located. Choose the most appropriate media according to the lifestyle of your buyersThe success of the sale lies in studying the target market, understanding their needs, habits and lifestyle, and putting together a well-structured marketing plan. This type of customer, beyond the transaction, is looking for a shopping experience. Do not abuse of digital toolsIt is important not to publish in several real estate portals or work with several real estate brokers; this could make potential buyers lose interest when they notice that the property loses its exclusive character and may generate distrust. Once your ad is published, be constant in your communication in the digital channels, but keep doing exclusive events to the property, inviting the media and potential buyers. Don’t forget about word-of-mouth advertisingIn the upper echelons it is important to market through close contacts and inform neighbors that the property will be on the market; these people may surely have friends or family members who are interested in moving to the area. Hold a small event at the property so that they have an exclusive viewing opportunity to meet potential buyers long before the property goes on the market. This can help you significantly reduce the property’s days on the market, increasing its visibility long before you have to post an ad. Which are the best cities to buy luxury properties? The exclusive home company Barnes has prepared a report with the cities with the best projection to invest in luxury homes. In order to elaborate the ranking, the interest of buyers and investors in high-end properties is measured. The report is dominated by European cities such as Lisbon, followed by Porto, Madrid, London, Genoa, Greece, Monaco and Biarritz. Only two cities in the Americas are part of the exclusive list, Miami and Montreal. Luxury also takes over vacations or business trips According to Forbes Mexico, “lodgings with a minimum value per night of $1,000 grew 60%. The strength of the luxury segment“. In fact, analysts estimate that this travel category has reached a value of $200 billion and will continue to grow in the coming years. In response to these trends, the Airbnb Luxe travel platform offers access to exclusive properties in 70 destinations around the world under the supervision of travel designers who provide in-depth destination knowledge, comprehensive planning, concierge services and VIP assistance every day of the week.
Mindfulhome: Spaces for Relaxation and Concentration
Mindfulness is translated as “full attention or full consciousness“, a term created by the New Yorker Jon Kabat-Zinn in the eighties and inspired by Buddhist meditation techniques adapted and updated to the Western mentality. This practice transcends people and reaches the interior design as a spiritual aspect from which the Mindfulhome concept was born. Under this perspective, spaces are conceived to be lived, not to impress; encouraging introspection through different elements: from the architectural composition, with fewer physical and visual divisions, to the decoration, thought as the indispensable elements that make us inhabit that environment in harmony. Balance and inspiration 2.0 People who want a home adapted to this philosophy are increasingly seeking inspiration on the Internet by resorting to social networks like Pinterest, which has experienced an increase of “248% in pins saved related to Mindfulness at home“, according to a recent publication of the magazine hola.com Another have consulted information on blogs or specialized websites such as Elephant Zen , Mindfulness for Women , The Mind Republic and MindFul Kids, among others. Open the doors and windows to tranquility Craig Hassed, author of the book The Mindful Home in an interview for AD Architectural Digest magazine explains that “a Mindfulness home is one that helps you feel mindful when you are in it. That is, connected, awake, confident and at peace with yourself, the people you live with and your surroundings. It nourishes you, interests you and engages you. It feeds your senses without overwhelming them, and doesn’t distract you from being present in the now.“ The expert affirms that any home can be transformed into a more favorable space to achieve that peace we long for, simply by “taking some time and taking care to look at it, connecting with the environment and making the changes that are possible to improve it“. Among some of the recommendations provided by these specialists are: – The space as a whole: open spaces or spaces without distractions take precedence, based on a minimalist style that helps us to stay with the essentials. Natural light, soft and dim, should be the protagonist. – Colors and textures: earth tones such as ocher and soft colors will be a priority in the chromatic palette. We leave out the stridencies and seek to connect with the environment through touch, for which we enter the third point. – Natural materials: natural fabrics, plants and unsweetened materials such as wood, clay or stone will help to reinforce the habitat, making it part of a whole. – Escape from time: spaces should facilitate introspection, for which we will eliminate clocks from places where they are not necessary, for example in the kitchen. This will encourage leisurely activities. – Technological disconnection: although home automation and gadgets are initially designed to make our lives easier, sometimes this hyperconnectivity can lead us to be unable to find calm. It is recommended to have the minimum technological environments and that these are focused on specific places. – Surround yourself with important things: a place that you want to feel special can be filled with objects that tell you stories. Plants, photos, pictures, bells, water fountains, sculptures or religious images if appropriate, can help you create the environment you are looking for.