Real estate is one of the oldest assets that has existed for many centuries. Kings, noblemen, kingdoms, and chiefdoms used the land as a form of exchange or compensation during wars and gave the royal families as a sign of reward. Over the years, real estate has become the most profitable business idea for those who can invest heavily in land or real estate and wait for it to appreciate over time. Moreover, factors such as urbanization have made it more beneficial and appealing than investing in the stock market. It is three times more likely than any other business to make money, in my opinion.
Best types of investments
In Ireland, there are many types of real estate investments namely:
- Physical property investments
Physical property investment can often yield high returns with these categories and requires more significant initial investment and patience for property to appreciate. The best type of investment are as follows:
- Residential real estate.
Building houses where people can live is an excellent investment because of the population growth and rental housing demand surges. Urbanization has brought demand for land and housing price to rise over the years, making individuals shift from farming to built residential houses such as apartments, vacation homes, flat buildings for people to live, and get returns in the form of rents or selling the houses.
- Commercial real estate.
As businesses, companies, and offices continue to grow in big cities, the demand to look for bigger spaces has increased. Building skyscrapers and office space, developing industrial parks and warehouses, and selling or renting the spaces for companies, businesses, and government agencies can be a great investment as an investor will yield returns for a lifetime.
- Raw land.
The land is often thought to be one of the oldest forms of trade. Owning or buying a large chunk of land is one of the best real estate investments. It also requires a lot of capital investments and also patience.
- Real Estate Investment Trusts (REITs).
This is the best option for investors that don’t want physical property. This is done by buying shares and investing in companies that own and build commercial real estate’s such as hotels, beaches, and housing schemes. The benefit is that a person gains dividends each year and can sell their shares without any issues.
In a nutshell, the best property investment is determined by investors’ long-term goals, short-term goals, risk, and willingness to learn how to invest in real estate. This is because each type of real estate investment has its own set of benefits and challenges; hence, investors’ level of skills, experience, and financial means all play a role in their real estate success.