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Real Estate Sector Expects to Witness Growth in 2022

Real Estate Sector Expects to Witness Growth in 2022

Despite the whole world being hit by the pandemic, Real estate sector witnessed a healthy rebound in 2021. Quick revival and steady performance helped win buyer’s and investors trust and picked up the growth momentum. As per Knight Frank Report titled “Real Estate Outlook 2022″, Indian realty sector appears to show healthy growth in 2022”.

Anarock report states that residential sector saw a rise of 27% in New supply between Jan-Sept 2021 than the full year supply in 2020. Plus, the sales grew by 5%.

Looking at the sector’s performance Mohit Goel, MD, Omaxe Ltd. said, “2021 has been a challenging and eventful year for the real estate sector. Despite the business disruptions due to the pandemic, the sector witnessed a strong rebound. Supported by the strong economic growth, the real estate sector quickly picked up the momentum. The pandemic-infused trends coupled with low-interest rates, affordability, and other favorable factors expanded the realty growth in tier 2/3 cities and it is likely to lead the sector’s growth in the coming years. New asset classes like hi-street and multipurpose commercial properties found favor with investors and shoppers. Similarly, in residential, township projects, large-sized homes emerged as a preferred choice and will continue to drive real estate growth in the years ahead. With strong demand, evolving trends, and new emerging markets leading the sector’s growth, the coming year is likely to be an impactful year for the real estate sector.”

Seeing the customer preferences and trends, Mohit Jain, Managing Director, Krisumi Corporation told, “The work from home has emerged as the dominant undercurrent for shaping homebuyers’ preferences. We expect buzzing home sales activity to persist, the city’s periphery to maintain its top spot as the most in-demand region and flexible work options to continue to shape housing decisions in new ways in 2022.”

Smartworld Developers, CEO, Vivek Singhal said, “The pandemic has remodeled real estate patterns, with developers prioritizing individuality and customer-centricity as their top considerations. Innovation & digital transformation will drive the boom of this industry in the coming year. 2021 has propelled a preference for a new asset class of independent floors located in gated townships. We foresee this demand to further grow in the coming years.”

Eldeco Group, MD, Pankaj Bajaj said,

“It has surprisingly been a great year for real estate, especially residential. After the pandemic, low-interest rates and rising demand for bigger homes have been a catalyst, and we experienced growth both in sales and prices,”.

Mapsko Group,Director said, “Housing demands are likely to reach the pre-COVID level in the next two to three quarters while rates may be increased by 5 percent during 2022. Albeit, the threats of the new variant are adequately contained with minimum disruption in the early part of the new year.”

Vatika Business Center President Vineet added “The amalgamation of commercial real estate, coworking spaces, and grade-A offices with well-connected infrastructure has gained high momentum. The magnificent shift from traditional working stereotypes and work from home trends to coworking spaces and hybrid styles of working have pushed the large market players to adopt new business models with advanced technologies and smarter offerings.”

With the return of customers to physical stores is pushing the demand for high-end retail spaces. As per reports, retail leasing activity reached 0.6 million sq. ft. in Q3 2021 across Grade A malls and high streets, with quarter-on-quarter growth being registered nearly 165 percent.

Pankaj Bansal, Director, M3M India’s take on this states, “Market is constantly expanding. There are tremendous growth opportunities for small and mid-level retail investors who are going to make the market more accessible to a wider audience. Boost in the real estate sector, which is the second-largest sector in terms of employment generation, only after agriculture, will further create jobs.”

Elan Group,MD, Ravish Kapoor said, “Increased business activities and transactions will gradually accelerate retail growth, resulting in a spike in demand for retail spaces such as stores and malls. Large-scale institutional investments are expected to stimulate the growth of India’s commercial real estate sector in the coming years.”

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Axiom Landbase

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