Economies around the world are confronting a major downturn and passing by a similar line, even the real estate markets are not flaring admirably in the present circumstance. So, it can surely be cited that all the government specialists and organizations need to make the required move in similar respects. Presently, before we talk about a sure shot solution to the same issues, we should think about the main problems in a similar setting. Njock Ajuk Eyong, who comes over as one of the most renowned real estate legal advisors around, put through his perspective with similar respects. According to him, each economy or financial institution needs to battle through the following issues inside the real estate markets.

Inflation

People around the globe are confronting the heat of inflation in the surrounding markets and this is where they are feeling reluctant towards making any investment in the real estate industry around. The costs of basic necessities are taking off and buyers aren’t left with numerous alternatives to put resources into similar respects. Njock Ajuk Eyong additionally puts down his viewpoint in similar respects and says that the necessary steps are required to be taken in order to check down the inflation issue inside the surrounding markets. When the inflation will be controlled, individuals will be left with more reserve funds which can then be used to make an investment in other options like real estate development.

Ongoing recession

The world has almost entered into the recession stage and there’s not really any economy that isn’t experiencing a significant hit in the same regards. Financial specialists are dreadful of putting their cash forward while banks are encountering a large number of NPAs. Buyers, on the opposite side, are encountering a major cut in their pay and income and this is where they are terrified of making any sort of investment forward. According to Njock Ajuk Eyong, governments need to think of specific changes so as to draw in important investments from the people around

Lack of digital advancement

While nearly everybody and everything has their presence online in the current digital era, real estate markets have lingered behind in the race. The majority of the occasions, clients aren’t been furnished with the correct data and insights concerning a specific property or resource and that is the reason they frequently get befuddled about their purchase decision in similar respects. Presently, Njock Ajuk Eyong says that a real estate firm needs to step up with their digital presence while coordinating with worldwide digital advancement. As the majority of the individuals invest a good time while surfing the web and doing online networking, real estate firms can really trade out the chance to focus on their potential clients in a similar line.

Land policies and tax reforms

Njock Ajuk Eyong also says that the government and the respective authorities also need to provide some leverage to the real estate buyers while relaxing certain land taxation policies within their country. This will help to motivate more investors to put their money in the real estate markets around.

Global economies are facing a downturn and going by the same line, even the real estate markets are not flaring well in the current situation. That said, it can certainly be quoted that respective government authorities and institution need to take required action in the same regards. Now, before we talk about the solution, we must know about the real issues in the same context. Njock Ajuk Eyong, who comes over as one of the most famous real estate marketer around, also quotes his opinions in the same regards. As per him, every economy or financial institution has to combat through the following issues within the respective real estate markets.

Rising inflation

Citizens around the world are facing the heat of inflation and this is where they are feeling hesitant towards making an investment in any real estate property around. The prices of basic necessities are soaring and consumers aren’t left with many options to invest in within the same regards. Njock Ajuk Eyong also puts down his perspective in the same regards and quotes that all the required steps needs to be taken in order to curb down the inflation within the surrounding markets. Once the inflation is going to be controlled, people will be left with more savings which can then be invested to make any purchase of land or any other asset.

Global economic slowdown

There’s hardly any economy that isn’t going through a major slowdown and the same has impacted all the associated aspects like the real estate in the process. Investors are fearful of putting their money forward while banks are experiencing big number of NPAs. Consumers, on the other side, are experiencing a big cut in their income and earnings and this is where they are scared of making any kind of investment forward. As per Njock Ajuk Eyong, governments have to come up with certain reforms in order to attract major investment from the general masses.

Staying behind in the digital revolution

While almost everyone and everything have their presence online in the current digital era, Real estate markets have lagged behind in the race big time. Most of the times, users aren’t been provided with the right information and details about a particular property or asset and that’s why they often get confused about the purchase decision in the same regards. Now, Njock Ajuk Eyong says that a real estate firm has to step up with their market presence on the online platform as well, while matching with the global digital revolution. As most of the people spend a good amount of time surfing internet and doing social media, real estate firms can cash in the opportunity to target their potential customers in the same line.

Reforms and policies

Every country comes with their respective reforms and policies regarding the real estate sector but if we have a look at the broader picture, most of the economies are facing the heat of global slowdown and hence, tightened the grip on these sectors with some additional taxes and charges. Well, this is something that has worsened the situation further and an already struggling real estate sector is now going into the dearth of darkness. Njock Ajuk Eyong says that additional steps need to be taken by the respective governments in order to boost the economies whilst also taking care of the various industrial sectors. Not only these steps would motivate the investors to put money into the economy, it will also help in infusing some life into the dead real estate sector within the process.