Increase in property value
Increase in profitability
Energy efficiency and reduced operating costs
Preservation of historical heritage
Reduced risk compared to new construction projects
Improvement of image and reputation
Improving a building through renovations can greatly enhance its market value. By updating the exteriors, installing modern engineering systems, and enhancing interior spaces, the property becomes more appealing to potential buyers and tenants, leading to the potential for increased sale or rental prices.
By enhancing living or renting conditions, renovations contribute to higher rental income.
Upgraded structures often draw in tenants with greater financial means, resulting in increased lease prices and decreased periods without tenants.
Modern renovation methods include the integration of energy-efficient technologies, such as insulation, new windows, and ventilation and heating systems.
This results in significant savings on utilities, making building operations more cost-effective.
Renovation of old buildings allows for the preservation of architectural and cultural heritage, which can be appealing to investors interested in sustainable development and socially responsible activities.
Such properties may also receive additional benefits from the government, including tax incentives and subsidies.
Unlike new construction projects, renovation requires less time and resources for site preparation and obtaining permits. This reduces risks and uncertainties associated with new construction projects.
Investors involved in renovation projects often receive positive attention from the public and media.
Participation in the restoration of urban infrastructure and preservation of historical buildings enhances the company's reputation as a responsible and forward-thinking player in the real estate market.