5 factors to spot the next trendy neighbourhood

Buying in established neighbourhoods often comes with a hefty price tag. Investing in an up-and-coming area early on, however, can give you better return on investment in the long term. These five steps give you a feel for what to look out for when looking for the next hot spot: Home renovations are a sign that the home owners have faith in the neighbourhood where they are living.

Furthermore, an industrial area may seem like a poor choice at first, but if you notice that the city is investing a lot of resources in renovating abandoned warehouses, that could be a sign that the area is in the process of transforming into a fresh residential space. Young renters or home buyers generally look for areas with a lot of action. If a lot of young people are moving to a neighbourhood, you can be sure that more trendy establishments will follow them, including apartment complexes with a lot of facilities (a new trend as property developers look to cater to millennials and zoomers entering the market).

It’s also a sign that prices in the area are favourable. A neighbourhood close to bus routes has potential, and is thus likely to attract investors.