DUPLEXES: A Market Analysis on the Pros and Cons of Construction
In recent times, there has been a growing interest among local property owners and investors regarding the viability of demolishing existing structures and constructing duplexes. This heightened curiosity stems from the notable upsurge in market prices for newly built duplexes. Property owners are increasingly aware that their land typically conforms to the necessary requirements, boasting a minimum size of 550 square meters and a frontage of at least 15 meters.
The allure of building duplexes lies in their potential as an effective vehicle for wealth accumulation. In the backdrop of favorable market conditions, smaller-scale developers and investors have successfully profited from the construction and sale of duplex units. These conducive conditions include historically low interest rates, easy access to credit, skyrocketing home prices, and the facilitation of building and approval processes. Notably, the introduction of private certifiers by local councils has expedited the approval of construction plans, enhancing the overall efficiency of the process.
Now, the pivotal question arises: should one embark on the journey of duplex construction, or should they abstain? This is precisely where the Cumberland Realty Group steps in, ready to assist you in navigating the intricate landscape of real estate investment. To make an informed decision, we will provide you with comprehensive market data, financial insights, and expert guidance to assess whether building a duplex aligns with your investment objectives and market trends.