My Realty Mysuru 2022
7 Reasons Why 2022 Could Be a Great Year for Real Estate

The pandemic has dramatically changed the way we live and work. While every other industry was affected, the real estate sector has shown amazing resilience and is poised to bounce back with full vigour in 2022. The future of real estate in India after Covid will be driven by a significant rise in demand, especially in areas like residential, office, warehousing and data centers.

As per the Indian real estate market forecast report by National Real Estate Development Council (NAREDCO), the sector is expected to contribute around 13% to the GDP by 2025.

Let us look at some of the top real estate trends that could gain momentum this year.

1. Sustainable residential developments to be prioritized
New-age buyers and developers are looking at methods to minimize the impact on the environment. Adopting green building initiatives like solid waste management, water recycling, rainwater harvesting, utilization of renewable sources of energy and a design that optimizes natural ventilation will feature in the agenda of top builders in the country.

2. Co-working and mixed-use spaces to gain traction
With hybrid work in trend, both the companies and their workforce are constantly looking out for spaces that offer flexibility and convenience. Co-working spaces are more economical and more attuned to modern work styles.

3. Residential market to witness an upward trajectory
With a rise in prospective homebuyers, there could be around a 5% capital value growth projection for the residential property segment this year.2 People will continue to look out for bigger homes, better amenities and attractive pricing. The rising need to accommodate the country’s growing urban population is also a contributing factor.

4. Warehousing and data centres to get a boost from e-commerce
In the commercial sector, the increase in online shopping 3 has raised the demand for warehouses and data centres to process huge amounts of inventory and data being generated. The warehousing sector may end up being the next big opportunity in the Indian real estate market.

5. PropTech innovation adoption to increase
Significant digital transformation is expected across the real estate sector with the adoption of technologies such as Big data, AI, Machine Learning, Virtual Reality, IoT and Chatbots. The industry is gearing up to integrate tech innovations in places such as back-office processes, digital treasury solutions, digital contracting, AI-driven marketing, rent payments and vendor invoicing.

6. Land appreciation value to rise
Renewed buyer interest in residential real estate and increased material cost will most likely drive-up land prices further. In the last 24 months in most urban and semi-rural regions, the appreciation value of land has seen around 50-150% growth for the residential, commercial and agriculture sectors.

7. Demand for luxury real estate to go up
A large number of homebuyers will continue to look into investing in luxury homes that offer uber-rich ambiance and lifestyle upgrades.5 The rise in wealth amongst the startup ecosystem is one of the factors driving luxury real estate trends. Posh homes are seen as a way to help with utilizing the funds better.

 

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