There is no question that second home sales have slowed over the past 12 months throughout most of the world, but with improved market transparency regarding the new global buyer pools, this trend is changing. The Resort Intelligence Report outlines what common buyer motivations are and what is in demand. Accessing this information can drastically impact development decisions and drive second home sales throughout Central America.
“Early reports from the study show the highest performing resort real estate developments are selling more than 5 units per month.” says Element-360 Global Research Founder, Chad Martin. “We have compiled and synthesized what the primary demand drivers for these projects through the development surveys. One such demand driver is pricing affordability but it’s not limited just to price” adds Martin.
Element-360 has completed over 40 competitive surveys on mixed use resort real estate communities in the last 60 days. The resort real estate developments covered in this report includes Belize, Costa Rica, Panama and Honduras. This data is highly coveted by developers throughout Central America, but also in the United States. Martin agrees, “There are two things we are always asked by our clients, ‘how can I sell more’ and ‘who should I sell to’ – not many developers want to spend the marketing dollars to generate sales, but if they can answer those two questions, it will be money well spent”
The Resort Intelligence Report focuses on answering those questions for developers. However, price and affordability remains the number one demand driver of sales in this market. “Buyers know that this is the time to buy but many developments have not revised their pricing model to match market conditions.”
Authors of the study, Element-360 a research, marketing and sales firm based in the US, have over 20 years combined experience in real estate. Their unique ability to execute services through proven market intelligence, thoughtful strategies and effective execution plans have maximized results for clients in both resort and urban environments throughout the world.
Element-360 is capturing the market share for developers who want to drive success in Central America’s second home and vacation home market. “Resort real estate is selling – not at the rates that we have seen in previous years – but with the market normalizing, sales velocity is back to a consistent pace. There are many projects that have the right strategy in place and they are seeing their sales numbers fall in line with a more stable real estate market.” says Martin.
Element-360 bridges the gap between Market Intelligence and Sales and Marketing Execution. Element-360 offers additional stages in the process that deciphers and evaluates clear Market Intelligence through thoughtful evaluation and planning, strategic thinking and building strong strategies that offer clear goals and objectives for all stakeholders.
For more information on the release of Resort Intelligence Resort study or for a free consultation with Element-360’
