Housing Predictions In 2022

The disruption caused by the pandemic is slowly setting and the real estate market is expected to gain back its pre-pandemic pace in the coming months. So, while 2021 was a year of recovery, 2022 might just be the year that sets new standards in housing real estate. The robust momentum in residential markets with low interest rates and desire to own a home will continue to contribute to the market making the residential realty stable in the coming year. Here are some of our predictions for the

Influx Of Technology 

Pandemic played an instrumental role in the adoption of technology by real estate which will most likely continue in 2022. Not only did it make property buying convenient in the times of social distancing, but it also made transactions and asset management easier. Sales, consumer managing and interaction through technology evolved the online property market by providing end to end solutions through a digital platform.

Digitisation paved the way for likely home buyers to experience their desired property through virtual tours, photos, apartment management, digital payment integration, and services of packers and movers etc thereby giving them the option to choose their best real estate deal. Since this trend has been so helpful in uplifting the overall real estate market amidst the pandemic, we predict that we will be carrying this off in the year 2022 as well.

Paved The Way For Personal Growth

As consumer sentiments changed in the wake of the pandemic, it made developers to focus on what they needed to deliver as a housing project. 

Since people began enjoying variables in a housing complex like the availability of different facilities and a larger home, the focus shifted from making homes to creating a better lifestyle for the residents. Thus, 2022 will also see the rise of many amenities based housing projects that will be brought forth by big as well as small time developers in different states across the country. 

Increased NRI Penetration

Development options and the relaxations guaranteed by RERA guidelines has attracted many NRIs to be a part of Indian real estate growth. Bigger homes, easy affordability and luxurious residences have made NRIs from all over the world especially the gulf and the states high potential clients to invest in the residential sector.

Since the pandemic, a significantly bigger percentage of NRIs are looking to buy residential spaces for personal use and investment purposes. This has also affected the market in the reverse way that has created a spike in the development of luxury homes due to their demand by NRIs. Therefore, going into 2022, we can predict the launch and progress of more luxury based homes with a bigger carpet area and a few different amenities.

The year 2021 witnessed a lot of changes in real estate guidelines like low interest rates, amendments in RERA timelines, GST, etc. In 2022, the launch and sale of residential housing units are expected to see satisfactory growth while the property prices may increase by 5-8%. Since consumer sentiment plays a big role in realty growth or fall, the future looks hopeful as evident from improved supply and demand factors of past 12 months.