One of the reasons why many people are interested in property investment is because they believe that property values will always rise.
They assume that property is a scarce asset that cannot be added, so demand will always exceed supply. They also believe that inflation, population growth, and infrastructure development will boost property prices.
However, the reality is not always so. Property values can decline due to various factors, both internal and external. Internal factors include the condition of the property itself, such as age, design, facilities, quality, and maintenance.
External factors include market conditions, such as demand, supply, competition, regulations, interest rates, and sentiment. You cannot control these factors, and you must be prepared to face their impact.
So, do not consider property investment as a gamble. You must always monitor market developments, evaluate the performance of your property, and adjust your strategies.
You also need to be flexible and creative in addressing potential problems. Property investment is a dynamic business that requires adaptation and innovation.