LONDON--(BUSINESS WIRE)--According to the latest procurement intelligence report from Technavio, the global real estate property purchasing market is expected to grow at a CAGR of more than 4% over the next five years due to the strong economic growth in emerging economies such as countries in APAC, including China, India, Vietnam, South Korea, and Malaysia.
The research report titled ‘Global Real Estate Property Purchasing Market: Procurement Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.
“Buyers in the global real estate property purchasing market opt for suppliers that carry out due diligence process to provide comprehensive solutions in terms of guaranty of safe investment and correct valuation of the property through their expert research professionals,” said lead Technavio procurement expert Angad Singh. “To cater to buyers' requirements, suppliers need to ensure that the entire property transaction process is streamlined to provide services in short TAT,” added Angad.
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Cost saving opportunities in the real estate property purchasing market
Adoption of various cost optimization levers allows buyers of property purchasing services to not only realize direct cost savings but also enhance category management and value benefits, including reduction in procurement complexities.
Technavio procurement experts have segmented the cost saving opportunities in the real estate property purchasing market into the following value-enhancement opportunities:
- Adoption of technology
- Supplier Competition
- Adoption of negotiation strategies
- Optimization of procurement practices
- Bundling of services
Adoption of technology saving aspects
Dotloop is a leading online transaction and productivity optimization platform in real estate. It provides real-time on-demand information and great insight and control over real estate transactions.
Cloud-based systems help to transform connectivity, file sharing, paperless transactions, and overall transparency of commercial real estate transactions.
Optimization of procurement practices saving aspects
Buyers should gain clarity on the purpose of the property investment, which otherwise may lead to unexpected results, including financial distress, especially if the investment is mortgaged.
Buyers need to ensure that in the case of investment in new construction properties, suppliers offer customization and documented amenities. However, new construction properties have certain risks associated with it that include delay in possession and high costs.
Bundling of services saving aspects
Market research professionals specialize in property types that can integrate local market and regional and national developments to help buyers evaluate various investment options.
Furthermore, using various research publications and analysis capabilities will help buyers to maximize the property performance. Suppliers should have in-house proprietary research that gives buyers unique insight into the global property market.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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