The Norwegian property market has experienced strong growth in recent years; favorable conditions, cheap loans, investment willingness, a strong economy, isn't it fantastic? The good times, the joy; as long as it lasted, but now things are tightening. This means a more cautious market where only the strong will weather the storm. Still, there is a great need in Norway that must be met to ensure housing for everyone. This puts property developers in a difficult position in tight times with increased costs eating into margins that should be invested in future projects.
Here are 4 tips that property developers should consider:
Plan for a tough market
It's important to plan for the times ahead to position yourself correctly to meet the needs in a cost-effective manner.
New concepts
Think outside the box - stand out! Use your time wisely, and leverage it to find new concepts, while also being open and experimental to emerging concepts and technologies that can enhance your business model.
Know your current and future customers
Know who your customer groups are, what values they have, how they want to live in the future, how they will discover their new dream home, and how they will buy property in the future. With this in mind, branding can be tailored, and the strategy can be sharpened. In addition to financial challenges, you must also meet the needs of the next generations.
Stay hungry under controlled conditions
Stay hungry for new technology, find and test new solutions that can contribute to your journey towards a larger goal. Technology should not be a burden. The value lies in finding the right placement of solutions so that they are used to create added value for you and your customers, in a seamless ecosystem.
With Properti, you create an arena for the market to show interest and create engagement. Data from Properti combined with the market expertise of Edge Branding, for example, resulted in over 400 interested parties before sales started at Sjøsiden Valle.
With data from Properti, we laid the foundation for establishing a strong marketing strategy, while Properti also provides the essential features necessary for a property project.
Hugo Pedersen, Marketing Director
