Investing in commercial properties has really picked up pace in the real estate industry of Pune. Businesses in Pune have been expanding exponentially, and so the need for commercial properties has also increased. With growing jobs and business pool, the real estate market of the city has witnessed the need for commercial properties. When planning to buy a commercial property a real estate agency or commercial property agency can assist you. They can help you evaluate a property and give an idea about the best possible deals.
Why invest in commercial properties?
There has been an increase of 46% in the total leasable commercial area in the last year. Commercial properties have now begun to grab a spectacular share of the real estate market of Pune. Investment in commercial properties always is a beneficial deal as:
- Commercial property investment brings consistent monetary returns.
- It gets better returns on investment. Commercial properties bring around 6-12% average returns as compared to residential ones which bring around 1-4% average returns.
- Commercial leases are always longer than residential leases.
- Lower vacancy risks as tenants who establish a great business are less prone to relocate their business.
Building a commercial property investment strategy
Nevertheless, investing in every commercial property does not bring profit always. A strategic and planned investment in commercial property with a commercial property agency can prove to be beneficial for the investor. In fact a real estate agencycan also be of great help to identify the right property. Let us explore what all strategic planning is required to invest in a commercial property in Pune:
Property must be in the right location
With the help of a commercial property agency it is really important to identify the right location for the investment. Agencies have a complete palette of options with them, to help the investor to choose from a wide range of locations. But it is important for the investor to make a minor survey of various suggested areas so as to understand and confirm how beneficial would the investment be for him. To evaluate a location, the investor may look at the connectivity of roads and also consider the future development of the location.
Analysing business development& market
The real estate agency or the commercial property agency may have guided the investor to evaluate the properties in the desirable locations, but investment of hard-earned money is a big decision. The investor must believe his instincts equally. The survey of the location can also include the population survey and the upcoming real estate projects to evaluate the area or the property from the point of view of business. An area with a growing population and their growing needs is sure to witness great business and hence, investment in a commercial property in such an area is going to be a great decision for earning lifetime benefits.
In case the investor wishes to start his own business or lease out the property to tenants, both will bring great results in such locations.
Quality product associated with a renowned name
Consulting areal estate agency or commercial property agency for quality projects or commercial properties by a renowned builder can bring a great influx of business. Since, tenants look for a popular location or a property which has already been marketed well in the city, thus, bringing them a lot of business from all over the city. Investing in a property with a strong brand name associated, can lead to quality as well as future benefits.
Investing in commercial property is a decision which must be well-strategized in unequally growing city of Pune. A strong evaluation of the location, property value, future prospects of property, government plans for future, etc. must be discussed with the respective real estate agency or commercial property agency for a clear picture of future returns from the property. Also, the investor should personally evaluate the property and strategize the pros and cons carefully before making the final decision.
Brick Folio, a top real estate agency in Pune, offers commercial and residential real estate, settlement, insurance, property management and corporate relocation services. Our mission is to help you make the best real estate decision.
To find acommercial property which is perfect for you, reach out to us today!