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Real estate business comes into being and continues to grow as the population increases. Imagine an empty raw land without people. There are still many countries with such unpopulated areas owned usually by the government. For developmental reasons, governments offer such lands cheap to homeless city folks to decongest urban areas. Only a handful would take the opportunity of owning a piece of cheap property in remote areas. Slowly, the population increases and opportunities start opening up for the basic needs of the people in the area. Because of these opportunities, the place starts to become attractive to more and more people. They come in small groups ready to exploit whatever they can find in the “promised land”. Some of these restless individuals research on the natural wealth of the land. Just a small mention of the possibility of gold from riverbanks and creeks is enough to an exploration expedition with family or a small group of friends. Chancing upon a few grams of gold will become hot news and spread like wild fire with the amount of gold extracted increasing each time the report reaches another ear. People from outside the community learn of the good news and will come flocking to the “gold country”. A new gold rush comes to life. Some more gold extraction and the promise becomes a dream of future riches in the former wasteland. Enterprising individuals take advantage of the influx of migrants and builds inns and cottages for rent. The money they earn from it is used as capital to buy more land for more buildings that they can rent out. Real estate is born in the boom of the new “gold capital”. The government comes in to regulate the gold extraction and maintain order in the thriving community. Real property prices start to climb and establish itself as a major industry parallel to that of gold mining. That is how real estate comes into being. Population is the key to its establishment and existence. That is how location is considered as the most important factor in real estate. Build where people are. And people go where opportunities abound. It may not be gold that will spark population growth. It could be any parallel that may attract people to settle in the new community. It could be less persuasive than gold but attractive nonetheless because of opportunities and promises offered. The growth of population and real estate may not be as rapid then but if they sustain hope in a promise of a better life, businesses will be set up for the inhabitants’ increasing needs and wants. The main attraction of the place will have a multiplier effect on allied or entirely new businesses that can meet local requirements.
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