The location of a property is one of the most important factors influencing the success of a real estate project. For new construction projects in particular, it is crucial to analyze the project’s micro-location in detail as part of the description of the location and surroundings in order to convince potential buyers and investors. A careful analysis of the micro-location can help to identify the strengths and weaknesses of the property’s location, define the target group and optimize your marketing. In this blog post, we would like to show you in 5 steps how you can carry out a successful analysis of the micro-location in order to successfully market your new-build real estate project.
Step 1: Analyzing the infrastructure
Infrastructure is an important factor when assessing the micro-location of a new-build real estate project. A good infrastructure increases the attractiveness of the location and therefore has a significant influence on the sales success of the project. The analysis of the infrastructure includes various aspects, which we will explain in more detail below.
Good transport links are a decisive factor for many potential buyers of a new-build property. This is not just about the distance to public transportation such as buses and trains, but also about the connection to important transport routes such as freeways or expressways. A fast and uncomplicated connection to the road network can appeal to commuters, for example, and thus increase demand for the property.
The availability of shopping facilities also plays an important role in assessing the infrastructure. This is not just about the nearest supermarket, but also about the accessibility of larger shopping centers or specialist stores. A good supply of shopping facilities in the vicinity of the property can increase the attractiveness of the location.
For families with children, nearby schools and kindergartens are an important factor when choosing a residential location. A good educational infrastructure can therefore increase demand for the property. The quality of the facilities is also important here. Proximity to doctors and pharmacies is another important factor when assessing the infrastructure. Good medical care close to the property can be important for both older people and families with children.
The range of leisure activities also plays a role in the choice of residential location. This includes parks, sports facilities and cultural activities, for example. A good selection of leisure facilities nearby can increase the attractiveness of the location. In addition to the factors mentioned, the range of restaurants also plays a role in assessing the infrastructure. A good selection of restaurants and cafés in the vicinity can increase the attractiveness of the location and thus increase demand for the property.
Step 2: Analyzing the environment
Step 2 involves analyzing the immediate surroundings of the new-build property. The development plan, the neighborhood and the nature and landscape play a particularly important role here. The development plan provides information on the type of buildings that are to be constructed in the immediate vicinity. It is important to check whether the new-build property project fits into the existing urban development concept and whether it could have a negative impact on the quality of living in the future.
An analysis of the immediate neighborhood is also of great importance. This is not just about the immediate neighbors, but also about the surrounding area in a broader sense. For example, is there potential noise pollution from commercial operations in the immediate vicinity? Last but not least, it is also important to analyze the surrounding nature and landscape. This is not just about the attractiveness of the landscape, but also about possible environmental pollution or nature reserves in the vicinity.
Step 3: Analyzing the target group
This step involves defining the target group for the new-build real estate project. The target group analysis refers to the demographics, income, interests, needs, lifestyle and marital status of potential buyers. A precise knowledge of the target group is crucial for the creation of marketing materials and for the marketing strategy in general.
Demographics provide information on the age, gender, marital status and occupation of the target group. Income and purchasing power are also important factors in determining whether potential buyers are in a position to afford the new-build real estate project. The interests and needs of the target group should be taken into account in terms of location, property features and comfort. The lifestyle and marital status of the target group are also important, as this influences the choice of apartment types and communal facilities. A precise analysis of the target group helps to tailor the marketing mix and branding to the needs and wishes of potential buyers.
Step 4: Analysis of the competition
The fourth step in the analysis of the micro-location for new-build real estate projects is the analysis of the competition in the region. A thorough investigation of the competition is of great importance in order to develop a successful marketing strategy for your own project. Some important aspects to consider when analyzing the competition are the number of competing real estate projects in the region as well as the distinguishing characteristics of the competition such as amenities, architecture and location.
A thorough analysis of the competition can help to identify and emphasize the competitive advantage of your own project. For example, the location, architecture or features of the project can be emphasized to set it apart from the competition. A deeper understanding of the competition can also help to identify potential issues and risks that need to be considered when marketing the real estate project.
Step 5: Summary and evaluation
All the results of the previous steps should be bundled and processed in the summary and evaluation. Care should be taken to identify the strengths and weaknesses of your own project and the region. It is important to put the results into a meaningful form so that a marketing strategy can be used to target potential buyers. The knowledge gained can be used to develop a successful marketing strategy and to differentiate oneself from the competition. Clear positioning and differentiation from the competition can help to effectively reach the target group and successfully market the project.
Conclusion
The analysis of the micro-location is an important step in the location assessment of real estate projects and is essential for the successful marketing of new-build properties. A careful analysis of the infrastructure, surroundings and target group can help to create a marketing mix that will convince potential buyers and investors. In this blog post, the most important aspects of a micro-location analysis are explained in 5 steps. From the analysis of the infrastructure to the surroundings to the target group analysis, a successful micro-location analysis can help to identify the strengths and weaknesses of the location, define the target group and optimize the marketing.
Do you want to successfully market your real estate project but don’t know how to get started? At Marketing Butler, we can help you market your project effectively. Part of our service is to create advertising materials that are perfectly tailored to your project. Use our free price calculator to find out the budget for your individual project.
