With Growth spurt in ‘Commercial Expansion and Affordable Housing schemes’ to the ‘Innovations and concepts like Virtual Reality’, Real- Estate India is set to bloom in the coming years.
With the Real- Estate Industry emanating in good health than the last couple of years, new trends are expected to unfold in the year 2019. The Indian Real- estate is set to witness a revival in the coming years. Increased accountability and transparency in the industry during the last few months have motivated a lot of investors to buy properties in India.
Let’s have a look at some of the prominent trends that are likely to dominate the real estate industry in 2019.
Aligning demand and supply
Due to Urbanization, the number of nuclear families is on the rise. Due to this the demand and supply of residential properties in the urban areas are likely to be aligned. Increase in the demand for housing is resulting in the unsold inventories getting occupied. The developers are striving to fulfill the demand and supply of the end users’ budget. These latest developments may result in enhanced traction in the segment of affordable housing.
Better connectivity to Tier 2 cities
Enriched Infrastructure, Affordability, Enhanced Connectivity, and remote working options have led the Investors and end users interest towards Tier 2 cities. Home buyers now realize, that they can enjoy the life of metro by living in a Tier 2 cities at a much affordable and reasonable price. Hence, increased investment in a Tier 2 city could be a trend to look out for in 2019.
Automated homes are the next big thing in the market. Quenching the next generations love for the technology, automated homes ensure complete comfort and safety to the house owners. Intelligently designed with the latest innovations, these can be the key to increase sales and much in trend in 2019.
Small real- estate companies are approaching the larger ones so that they get saved from the financial crisis and the incomplete projects get completed. As a result of this ready- to- move projects by reputed developers are seeing an edge over the under- construction projects. Joint ventures and joint developments are taking place. Small and large developers are entering into development managerial agreements; this is likely to continue in 2019.
With the Augmentation and expansion of the entrepreneurial ecosystem in India, it has cast a multiplier impact on various segments. This includes the commercial office space, among the others. The last five years have witnessed the concept of co-working space growing to more than 200 players. With such expanding nature, it is possible to trend in 2019.
Virtual Reality has led to a spike in the NRI investments in India and will continue to do so in coming years. It allows buyers from anywhere in the world to view the built or unbuilt property remotely.
The approaching Central Elections will significantly influence the Real- Estate Market in India, which might result in growth and expansion in the coming year.
Holistically, 2019 is the most optimum year to invest in a home or a property. Keep watching for those upcoming trends in the coming years.