Good day Ghana, it feels good to be back, especially after unceremoniously taking a break. Please have my unreserved apologies. It’s probably 21 days and 7 hours since I was last here on this column. In between the time I was absent, I have been to 2 conferences and travelled over 250 kilometers around Ghana. Hint, hint, I am dropping all this data to give you a clue about the theme for today’s topic; the role of data in making sound real estate investment decisions.
Technology has permeated all facets of our life and real estate isn’t left out. Gone are the days of making a decision whether to buy a property, in which location, which type and the risks involved to ensure the greatest return on investment. Enter Data analytics! We will look at how data can assist sound decision making as well as share an example of one of such systems enabling data driven real estate investment decision. I got chatting with Henry Assenso, CEO of Kuro Africa who was gracious to shed light on this wonderful enabler.
Facility management
Before we get back to henry, it is poignant to note that “The internet of things” (IoT) is also a key element. One can access data from sensors in home appliances and heating and cooling system to assist in preventative maintenance while preempting system failures and through that provide a more delightful user or tenant experience as well as enable reduction of maintenance costs.
Reach Target Audience
Instead of developing Ads and blasting out to a big public audience in the hope that your Ad reaches target audience, you can avoid a hit or miss situation by leveraging data analytics. It helps drive your promotions and messaging to the right people with a high probability of interest on your property, the accompanying budget etc.
Data-Driven Insights for Confident Decisions
Coming back to Henry, team lead at Kuro Africa, he highlighted how the platform helps investors anticipate investment hotspots, understand prevailing trends, and access valuable insights for effective planning.
Price Trends, Location Profitability and Future Valuations
The platform also provides a comprehensive view of price changes over time, helping
you understand market trends. The subsections mirror those in the Real Estate section,
providing trend data for property for rent, property for sale, and land for sale.
Data can help you understand how prices are changing over time, allowing you to make informed decisions about when and where to invest. they can quickly assess the profitability of a location based on ratings, traffic, occupancy, rental income, and ROI for the area.
Looking to leverage data analytics? Do get in touch with us.
The writer is the Executive director of Yecham Property Consult
& Founder of Ghana Green Building Summit.
Email: [email protected]
Linkedin: Cyril Nii Ayitey TettehTweet
