Real Estate Industry Trends to Watch
New Headways for The Real Estate Sector
The real estate and housing businesses across the country have remained in a state of stagnancy for almost half a decade. The near future doesn't look incredibly bright. However, the decrease and stability in prices is good news for all those who want to buy property in the times to come. The Real Estate Regulatory Act of 2016 (RERA) along with GST, has put substantial pressure on developers and builders. It is beyond doubt that they are committed to completing existing projects instead of venturing into something new.
Where will they live?
Houses and apartments at the lower end of the price range have been doing well despite a generally tumultuous period for the industry. Their performance has not been surprising to the pundits. This sector of the industry has continued to go from strength to strength. In all probability, this brilliance should remain in the foreseeable future. Affordable residential complexes should continue proliferation.
The Impact of RERA
RERA has proven to be a setback on the developers and builders, but it was the need of the hour. Experts have gone on record to say that the advent of stricter regulations has been among the driving factors for affordable housing. The demand has always been there, and a decrease in the process has enabled the middle class to become homeowners.
Co-living is A Practical Solution
Shared accommodations among students was always a prevalent trend. However, the migration of young professionals to new cities has given a new lease of life to shared housing. More and more youngsters have opted for such a lifestyle.
Real Estate Investment Trusts
Investment became a significant cause of concern with tighter reins on the NBFCs. However, the likelihood of REITs coming on the scene can solve numerous problems for the developers. The possibility of enhanced foreign investment may also become a reality with friendly policies such as REITs.