The past two years have come with several ups and downs in the real estate industry, with the COVID-19 pandemic. A new era of digitalization and online sale & purchase has taken off. Many factors have boosted the sector, including the low stamp duty, interest rates, increased demand, and everything that boosted homebuyers’ confidence. The recent changes in the stock market and the rupee-dollar exchange rate have made it more attractive for NRIs to invest in the Indian real estate market.
The expert study also shows a hike of 27% in new residential supply than the supply in 2020. Though 2021 has seen a lot of disputes, despite several business disturbances due to the pandemic, the sector has seen a strong rebound. Shortly after the vaccination began, the industry started growing in new launches and improved amenities concerning Indian market demand and sector’s benefits. Many other reasons have also supported the sector’s growth, like heavy returns, good rentals and improving infrastructure.
The new year has picked up new momentums and infused significant trends included with low-interest rates, affordability. Due to many other key drivers are likely to lead the sector’s growth in the coming years. Hi-street retail and multipurpose commercial properties are the new asset classes for investors and shoppers. Likewise, in residential real estate, township projects, large-sized homes appeared as a preferred choice and will resume driving real estate development in the years ahead. With high & strong demand, growing trends, and new arising markets ushering the sector’s growth, the forthcoming year is expected to be an influential year for the Indian real estate sector.
Consumers also recognize the importance of owning a home that gives up demand to residential properties. Picking up suitable facilities, including Location, connectivity, and comfortable amenities, is becoming the critical deciding factor. 2022 will witness the rapid transformation with the new standards; developers have also started investing in IT-rich technology and digital mediums to efficiently reach out to more potential audiences.
As we move into the new financial year, the specialists read the tea leaves and anticipate an optimistic 2022 for the real estate industry. Significant changes one can expect are
Co-working spaces will receive a piece of the pie
The expansion of startups has led to increased co-working space culture; the pandemic has also triggered to re-strategize workspaces, foreseeing a better future for the new asset class. Companies returning to offices will have to believe in leveraging Flexi spaces to decrease cost and expense, which will boost the demand for such spaces.
Foreign investment will be an essential growth driver
FDI (Foreign Direct Investments) will still remain an important growth driver, and the same applies to the real estate players. Indian real estate will keep attracting foreign investors, especially in the residential market.
With RERA ensuring transparency and laws allowing 100 % FDI in construction, Indian real estate is witnessing substantial investment infusions. The residential real estate market in India has become more active for ultra-high-net-worth individuals (UHNIs) and NRIs due to the increased transparency and ease in investment norms. Because of all of the reasons Indian real estate market witnesses a massive investment from NRIs.
Increased business and housing activities with more significant transactions will gradually rev retail growth, resulting in an increase in demand for retail & office spaces such as stores and malls. Large-scale institutional investments are predicted to stimulate the growth of India’s commercial & residential real estate sector in the coming years.
Finding the right property in the new trends is defined as a time-consuming and challenging task. It is crucial to get the best Real estate company to find the best investment for better returns. Trisol RED is one of the leading real estate consultants in Delhi, NCR, with an expert team and a good blend of knowledge and enthusiasm that can help you get the best possible solutions. The experienced team is known for thriving efficiency in the workplace and heading business transformations seamlessly and is now committed to pushing professionalism in the Real Estate industry.
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