In 2022, India’s real estate sector is seeing a robust growth in demand, which is likely to continue throughout the year. The real estate industry’s entire market forecast is good, from commercial areas to residential markets.
Despite the threat of a pandemic, the sector remained resilient and grew steadily in 2021. For a time, India’s first wave of Covid-19 brought the industry to a halt. However, by the last quarter of 2020, the market had begun to pick up speed, owing in part to increased demand for residential space. The second wave of Covid-19 slammed into the sector just as it was reviving. Unlike the first wave, the second wave’s consequences were not as severe or long-lasting. Vaccination campaigns and lower infection rates boosted market confidence. In addition, the holiday season aided the sector’s expansion.
Real estate index has risen by 75% in the last year and is the second-best performing sector index, largely beating the benchmark index Nifty50. Real estate has not only made a comeback, but is likely to thrive in the coming year, thanks to historically low loan rates and temporary stamp cuts.
Here, we’ve compiled a list of the top trends across these key markets to watch out for in 2022.
1. The trawl for a residence has gone digital:
The epidemic has hastened digitization in all industries and the real estate market is no different. Because of the pandemic and the intense housing market in 2020, some buyers bought their homes without ever seeing them.
2. The housing costs continue to grow:
Current real estate trends are intricately linked. Prices for single-family homes climbed in as a result of growing demand and dwindling supply, and are likely to stay high in 2022 and beyond.
3. The solid footing in the residential market:
Residential prices are likely to begin rising again after a long period of decreasing and then stabilizing. In 2022, the trend in residential sales is projected to continue, as prospective homebuyers’ demand for larger homes, better facilities, and competitive pricing will keep them interested in closing transactions.
4. In a flexible occupier workplace plan, co-working is a viable option:
The co-working sector will benefit from this shift in planning patterns, as the epidemic emphasizes the need for agility like never before. Despite the return to normalcy, demand for flexible office spaces will rise due to agility, a buzzword linked with the co-working sector.
5. The rental property market is deteriorating:
The biggest apartment vacancy rate since 2010 and falling rental rates have resulted from the exodus from big cities. Demand for rental houses will continue to shrink in major cities as those who can afford it attempt to buy a home.
6. Demand for Single-Family Housing creates shortages:
Buyer demand for single-family homes is increasing as people migrate from cities to the sub-urban. Housing building, both single-family and multifamily, is on the rise, reaching a high point in 2020 for the first time since 2006.