The Future of Real Estate In 2021
Post on 25-January-2021.
Vizag
Introduction:
The home is the beautiful destination of a household, and buying a property is the memorable achievement of a middle-class family. As per 2019 statistics, over 50% of Indian population owns the house, and the rest live in rental apartments and houses.
There is a lot of scope in real estate sector to invest and benefit in the Indian market.
Even when there is a strike of Covid-19 all sectors dropped down but the only industry prevailed in the market and upscaling its limits was the real estate sector.
Quick Takeaways:
· Future trends in the Real Estate Industry
· How digitization helping customers finding properties
· Importance of real estate sector in Indian investment market.
Will discuss some of the significant future trends in real estate in 2021 as follows.
Property Ownership:
Living a happy life is what all dream about, and now pandemic thought everyone home is the safest place in life. This proves the importance of a home in 2021; thus, this has a significant impact on a boom in the real estate sector.
Digital Integration Enhancing the Market:
Yes! When we observe the digital revolution, customers are nearing the markets very quickly, the traditional methods of seeing a property and waiting for the customer abolished and made many things possible via digitisation.
For example, 99acres.com, square yards, and upcoming future platforms like Eswari Homes made revolutionary changes in the real estate sector by introducing online property platforms with thousands of options and many more choices with beautiful structures and great amenities with social media platforms and other media channels to near the customer quickly.
Distance Doesn't Matter in Buying A Property:
Work from home is the new trend in 2021; Covid-19 impacted the businesses to run their activities from home; the future companies are trying to make their employees work from home. In this way, they are saving office space and other operational expenses.
It's clear that now going office is replaced with work from home, and people are interested in buying properties wherever they want and not near their offices.
Affordable Homes:
The digitisation and removal of intermediaries reduced property searching cost and available to millions of people just in a click distance through different property search engines.
The market rate will never be an in a straight line, but when you compare the past trends in the property search engines, it will show you the affordable homes with many amenities that serve the need of a customer in his budget.
Investment in Indian Real Estate Sector:
In residential and office space, there is a tremendous demand for Real Estate investment in India. In 2019 the market attracted 43,780 crore investment, and the retail market witnessed a USD 1 billion investment from private equity. The institutional investment was resulted in USD 712 by the end of March 2020
These statistics prove that the growth in the real estate sector and the importance of property purchasing in India.
Purchase and Sale:
One of the biggest worries of property purchasers is that the property cost cut down or market value reduces. But if we observe the past two decades' trends in the Real Estate sector, the property value is multiplying but not coming down. Hence purchasing a property is the best investment, and when you sell a property, the value will be doubled, and you will be in a profitable position.
Conclusion:
The above article states the importance of real estate industry trends in India which constitutes the best investment source for many businesses and the tremendous viable opportunity for consumers to invest their money and improve their lifestyle in future.