In a post-COVID era, there is a major shift in consumer demand towards homes with bigger open spaces like terraces, balconies, parks, gardens and courtyards nearby. WFH has led to most home buyers prioritizing home ownership as a necessity and not a matter of preference. Consumers are now desirous of lifestyles that may seamlessly include working from home while not compromising on the luxury living quotient. These trends should sustain in 2022 as per industry experts who are anticipating a highly positive year ahead.
Some predict 5% capital growth in 2022 for residential real estate while the Founder and COO at Square Yards, Kanika Gupta Shori states that strong interest amongst end-users for spacious homes, backed by Government and developer incentives will maintain a hot housing market, leading to higher conversion of fence-sitters into potential home buyers. She also opined that residential prices will go upwards owing to huge pent-up buyer demand and sound goals of people for realty investments.
Multiple infrastructural initiatives of the Government and large-scale projects like industrial and business parks, leading to a spurt of residential housing and related infrastructure in their vicinity, will also keep the market going strongly as per experts. HNWIs and NRIs will keep investing more in residential realty in India owing to greater transparency and easier norms for investments.
RERA and 100% FDI in construction are major game-changers as per experts. The new ultra-wealthy class of buyers is on a property acquisition spree throughout Bangalore and Mumbai among other cities. Although there is higher pressure on margins, prices will continue to remain steady or increase marginally in 2022 as per experts. Sales figures will rise across projects with more NRIs coming into the market. The office space segment will keep driving commercial realty growth along with the industrial segment. There will be huge demand from IT and ITeS companies while co-working will also continue fuelling growth.
For a detailed report on this read the articles we were featured in:
Outlook : Outlook Real estate
Published Date: Dec 28, 2021
