Global economies are facing a downturn and going by the same
line, even the real estate markets are not flaring well in the current
situation. That said, it can certainly be quoted that respective government authorities
and institution need to take required action in the same regards. Now, before
we talk about the solution, we must know about the real issues in the same
context. Njock Ajuk Eyong, who
comes over as one of the most famous real estate marketer around, also quotes
his opinions in the same regards. As per him, every economy or financial
institution has to combat through the following issues within the respective
real estate markets.
Rising inflation
Citizens around the world are facing the heat of inflation
and this is where they are feeling hesitant towards making an investment in any
real estate property around. The prices of basic necessities are soaring and
consumers aren’t left with many options to invest in within the same regards. Njock
Ajuk Eyong also puts down his perspective in the same regards and
quotes that all the required steps needs to be taken in order to curb down the
inflation within the surrounding markets. Once the inflation is going to be
controlled, people will be left with more savings which can then be invested to
make any purchase of land or any other asset.
Global Economic Slowdown
There’s hardly any economy that isn’t going through a major
slowdown and the same has impacted all the associated aspects like the real
estate in the process. Investors are fearful of putting their money forward
while banks are experiencing big number of NPAs. Consumers, on the other side,
are experiencing a big cut in their income and earnings and this is where they
are scared of making any kind of investment forward. As per Njock
Ajuk Eyong, governments have to come up with certain reforms in order
to attract major investment from the general masses.
Staying behind in the
digital revolution
While almost everyone and everything have their presence
online in the current digital era, Real estate markets have lagged behind in
the race big time. Most of the times, users aren’t been provided with the right
information and details about a particular property or asset and that’s why
they often get confused about the purchase decision in the same regards. Now, Njock
Ajuk Eyong says that a real estate firm has to step up with their
market presence on the online platform as well, while matching with the global
digital revolution. As most of the people spend a good amount of time surfing
internet and doing social media, real estate firms can cash in the opportunity
to target their potential customers in the same line.
Reforms and policies
Every country comes with their respective reforms and
policies regarding the real estate sector but if we have a look at the broader
picture, most of the economies are facing the heat of global slowdown and
hence, tightened the grip on these sectors with some additional taxes and
charges. Well, this is something that has worsened the situation further and an
already struggling real estate sector is now going into the dearth of darkness.
Njock Ajuk Eyong
says that additional steps need to be taken by the respective governments in
order to boost the economies whilst also taking care of the various industrial
sectors. Not only these steps would motivate the investors to put money into
the economy, it will also help in infusing some life into the dead real estate
sector within the process.
