10 Real Estate Transforming Trends of 2016
The demand in the real estate market is on the slowing curve in Delhi-NCR. But in other major cities like Mumbai, Navi-Mumbai, Jaipur, Vadodara, etc. the demand appears stable. The new launches in these cities are attracting buyers more and more. Well this is one trend that is setting in real estate business in 2016.
Here’s a closer look at other trends that will have significant impact on the housing market and property in India.
- Supply: Introduction of low-priced and affordable residential properties has driven new launches. The supply is still showing variable signs of cyclical ups and downs depending on launches.
- Affordable Price: Builders have already started focusing on more affordable price points. One aspect of real estate that has not recovered from the slowdown has been single-family construction.
- New Housing Ideas and Options: The whole concept of homeownership may experience a significant and serious shift. There could be an increase in demand for rental housing due to the drop in rate of homeownership.
- Rents – Rent charges are expected to increase marginally across the residential markets of Mumbai, Bangalore, Pune and Chennai.
- Type of project launches – Builders are focusing primarily on the mid-segment category comprising two and three bedroom-hall-kitchen apartments.
- Buyer/investor sentiment – It is expected to remain weak given the high interest rates and rising residential real estate prices.
- Investment in the Changing Office Landscape: The maturing recovery has led to job growth, which in turn has strengthened the commercial property sector.
- Second Tier Cities Take Centre Stage: It’s no shocker that cities such as Vadodara are taking off. These cities are expected to perform exceptionally well in 2016.
- Vacancy rate (percentage of all available units) – In terms of available apartment units, it has risen across all cities.
- Infrastructure: There has been significant infrastructural development due to the exciting on-going and planned real estate projects so far. This real estate trend is likely to continue in 2016.
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