- January 8, 2022
2021 has been witness to a recovery period. Real estate has shown a big recovery between the months of July and September 2021. This trend is expected to continue through to 2022. The sale of residential apartments in Ahmedabad has seen a robust change. Similar real estate trends are witnessed across the country. So what are the key trends of 2021 through 2022?
1. Evolution Of PropTech
Simply known as the evolution of technology that assists real estate businesses, proptech has penetrated all real estate businesses. From realtors offering online consultations to 3D views of buildings to online property views, several end to end solutions have been brought into place owing to the Covid situation that has engulfed the world. The benefits of these are offered by well established builders in Ahmedabad. Several online meetings between builders and home buyers, home loan givers, building managers, etc. are also managed via online forums. This development has been one of the biggest turning points in real estate through 2021 and shall continue to evolve through this year as well.
2. Demand For Housing May Outrun Supply
2021 has seen a surge in not only luxury and pocket friendly homes but also in the ready to move in homes. Studies show that by the year end of 2021, most homes spent 47 days on the real estate market. This number is 10 days less than the previous year. In the local market too, 3 & 4 BHK homes in Ahmedabad have been selling quickly. Not only has this left the buyer market with fewer homes to choose from but could also predict higher rates for buyers in 2022.
3. Upgrade In Life Style
The pandemic and several lockdowns have re-introduced people to the joy of staying at home. With this has come the desire to own luxurious and ultra-luxurious homes so that they can enjoy staying in more. As opposed to this, a segment of people want to step out of the four walls and enjoy facilities such as swimming, recreation and entertainment closer to home. In either scenario, customer preferences and variables are changing pushing the demand up for homes with more facilities.
4. Rising Home Rates
While there are still offerings of some wonderful homes at budget friendly rates in Ahmedabad, all home-hunting people must brace themselves! Cost of real-estate is expected to rise in 2022! The graph of price escalation is going up slowly and this could mean that the buyers might have to make changes in what they are seeking in their homes. Either a small compromise on location or amenities must be made if they have an inflexible budget.
5. Increased NRI Investment
One of the most preferred investment sectors for NRIs in India has been real estate. With low interest on home loans and postponement of RERA deadlines owing to the Aatmanirbhar Bharat Package, NRIs are looking to invest in bigger and more luxurious homes. Several of the NRIs are also looking for luxury homes at premium addresses for their own retirement.
Sheetal Infrastructure offers world class living apartments, commercial as well as retail properties as well as budget friendly homes in and around Ahmedabad, Gujarat.