International real estate consultant Knight Frank India in a report on Thursday stated, that 2022 could be a more stable year for the pandemic-affected sector, both residential and commercial real estate sector.
Knight Frank India report-
Knight Frank India reported in its Outlook 2022 report that the housing segment could rise in price by up to 5% in 2022.
With physical offices, portfolio optimization and hybrid operations are expected to become dominant themes in the future. Driven by increasing demand from IT companies and reactivation of flexible office operators. In the housing sector, demand is expected to continue to increase with increased interest from end users, driven by impulses from the public sector and dynamics that provide incentives to builders. Warehousing segment, which avoided risk during the pandemic, will continue to grow thanks to demand from e-commerce and 3PL players.
The main findings of this report highlight the trends and dynamics of 2022 in different segments of real estate in India. In the housing segment, capital investment will grow by around 5% in 2022. Many supply and demand factors assessed over the past decade have begun to drive up house prices. Home sales expected to continue in 2022, as potential buyers’ preferences are for larger homes. Better conditions and attractive prices will keep them interested in the deal.
The growing demand for office space from the five largest IT companies, based on high employment over the past 18 months estimated at 11.67 million square meters over the next one to two years.
Pandemic disruption is declining-
Shishir Baijal, Managing Director and Chairman of Knight Frank India said, the real estate sector has shown a solid recovery despite the low demands in 2021. Segments such as residential properties are doing better than others. The disruption caused by the pandemic is gradually declining. The housing market expected to increase in the next two to three quarters. Although the fears from the new variant sufficiently contained with minimal disruption at the beginning of the new year. If we can continue to operate at this pace, the real estate sector will experience a similar recovery to reach or even overcome the pre-pandemic level.
Also read:-
CREDAI: Property prices may increase by 10-15% in future!
Builders have to disclose the status of mortgage loans for apartments