Real estate developers are expecting the sale momentum to continue in 2022 with demand for gated community continue to grow. Despite the business disruptions due to the pandemic, the sector witnessed a strong rebound.
The Indian real estate market has seen a rebound and displayed resilience post pandemic. In the last 18-24 months the real estate market has also witnessed substantial consolidation, which is expected to pick further pace in favour of developers with proven track record of transparency, on time as well as quality project execution capabilities, pan India presence and most importantly having strong balance sheet.
The affordable housing segment has seen a robust demand this year and it is perceived that this trend will continue in the coming months. Concepts such as senior living have also found traction in 2021 and these will continue to thrive in 2022.
“We have observed that the homebuyers are being very thorough with their due diligence and want to cover all bases before zeroing in on the property or the project of their choice. Apart from features, locality, interiors, prospective buyers are also considering ROI before taking the plunge,” said a Project Consultants. It is expected that this growth momentum will continue in 2022. According to a Property Consultant, in 2021, the demand for affordable housing reached an all-time high.
Housing sales are likely to rise by 15-20 per cent above 2020 level during the calendar year of 2021 despite the strong second wave of the COVID pandemic. Property sales picked up from July onwards as the infection rates waned. “With 2021 ending on a note of normalcy thanks to laudable steps taken by the government in terms of making accessible easy and inexpensive housing loans and by way of other policy incentives, the coming year promises to be predicated on integration of high-grade and efficient delivery of a wide range of services,” said one property consultant.
“The pandemic has reinforced the significance of homeownership. It is indeed an opportune time to buy a dream home against the backdrop of economic stability prospects and conducive policy landscape. We foresee sales to gain further momentum in the coming months,” said a property consultant of an overseas joint venture.
Source: economictimes.indiatimes.com