2020 has been bad in all aspects for most of us. It has severely impacted lot of mainstream businesses and you must have noticed a dip in the real estate market too. Here are the key real estate trends that you can look forward to in 2021:
- Home buying for self-consumption: You must have observed millennials in the last few years had developed the mindset of rental homes. But with the current pandemic situation, most of us have developed the need of having our own house so that you can easily manage your work from home and as most of the companies have adopted work from home culture so now you can plan to take home in your desired city. Residents of toer2-3 cities will prefer to take a plot whereas people staying in metros will opt for gated societies.
- Workplace changes: This is especially true for IT/ITeS companies where the work-from-home model is increasingly becoming an integral part of their long-term strategy. To optimize the cost, companies will prefer taking smaller spaces in comparison to big office places and continue doing work from home
- Foreign Investors will continue to bet on Commercial Real Estate: Even during the lockdown, there has been good demand from foreign investors for quality assets in India, thus showcasing the confidence in the sector example being Brookfield-RMZ, Blackstone-Prestige deals which have been in the news. Similarly, from an institutional investor perspective, REITs will continue to be the key theme and we will have more REITs hitting the capital markets in 2021.
Even though 2020 was challenging, the real estate sector has the potential and is poised to be one of the key drivers for supporting the overall growth in the economy.
Source of this post is https://www.financialexpress.com/money/key-real-estate-trends-likely-to-prevail-in-2021/2164434/