Top Real Estate Trends in India for 2020Posted by Varun Mishra on December 16th, 2020 The real estate market is one of the most optimistic sectors for investment. Not only does the market provide a range of safe options for it, but also delivers a number of favorable returns. Most experts believe that investing in property and the realty market is much better than investing in mutual funds, gold, or any other investment scheme. However, it’s always better to do some research for yourself and study the property market in India along with its pros and cons before making any investment decision. Here are a couple of top real estate trends for 2020.
Co-living spaces are based on the concept of sharing a space together. Similar to hostels, the residents of co-living spaces share facilities and amenities like lounges, dining hall, business center, and even recreation rooms, but have their own private living quarters. Real estate agents in Goregaon East feel that the Indian co-living spaces are expected to grow and expand greatly by 2023. A concept loved by millennials, these co-living spaces are already popular in India’s metro cities and are slowly moving to tier-II cities like Jaipur, Indore, and Ahmedabad.
Similar to co-living, co-working spaces allow people to share a work environment along with facilities and amenities associated with it. A real estate consultant in Mumbai can help you to find such spaces all over the state. Co-working spaces have risen from 720 spaces in 2018 in India and are expected to continue to rise and expand towards tier-II and tier-III cities in the coming years. Large corporates and small brands are also shifting towards shunning expensive offices for a cost-effective, flexible work environment.
Like other sectors, the real estate industry has also embraced technology and brought about transparency and accessibility to an otherwise transparent society. This is called Property Technology (Proptech). Real estate agents have pointed out Big data, AI, VR, and other new technologies are largely being incorporated in real estate businesses. Indian tech startups are huge and 77 out of 179 are funded in the Asia Pacific. Along with co-living and co-working spaces this property technology is growing and redefining real estate in 2020.
Real estate investment trusts (REITs) have been another source of financing for many global real estate markets. The big success of the Embassy office parks attracts much better policies, tax reforms, and global investors, some of which are expected to boost the estate industry.
Real estate consultants in Mumbai have noticed that the demand for student housing has largely increased in the last couple of years. This is due to the migrations of India’s youth and students from small towns and villages traveling to big cities seeking higher education and jobs. The student housing sector is expected to add at least 6 lakh beds in the next three or four years with the age range of 18-23 looking for higher education at the end of the year. The Bottom Line In a span of just a few years, Indian real estate has transformed in a variety of ways, be it financing, construction, specialization, or scale. Developments considered to be a one-off project are being transformed into assets with a host of new sectors like senior living, managed offices, student housing, and logistic parks growing rapidly. The next few years look promising for the real estate industry, especially for firms who can add value and capitalize on this opportunity. Like it? Share it! More by this author |