The year 2020 started off on a positive and optimistic note, but the sudden outbreak of novel pandemic which initiated the global lockdowns disrupted the whole national and international market. Although the year 2020 was a big disappointment for the economy as well as for the country, the real estate sector of India has somehow administered to be the major contributor of the economy.
Although India is still amid the wave of Covid-19 cases, the plummeting positivity rate has inspired confidence among people as they have now started trickling back to the public places such as restaurants, malls, movie theaters, etc. Also, the working professionals and people working from home have started to commute to the offices, thanks to the recent arrival of vaccine in India. While many sectors have shown signs of slow growth, real estate is showing a sudden increase in demand of residential as well as commercial spaces. Let’s have a look at the top real estate trends that are most likely to prevail in 2021 not only on the consumer but also on the developer front.
- Buying home for Self-Consumption: The buying behavior pattern of people is altering as the people have started favoring rental homes, apartments, and flats, away from the hassles of city life. ACE a renowned real estate developer, has properties in Noida that are full with facilities and are perfect for the current generation and their families.
- Driving Sales via builder confidence: The top real estate players and developers who have a sound background and brand equity will gain a higher share of the market as the small-scale developers have started investing their money through development management agreements or business takeovers. This scenario is likely to continue and consequently will lead to better and enhanced customer satisfaction and confidence. ACE is one of the top reputed builders in Noida which has an excellent track record of timely delivery and have few of the best ongoing projects in Noida Expressway with state of the art amenities and benefits.
- Changing of the workplace: Work from home became an integral part of the Covid-19 world, especially for IT hubs. Corporates who were managing the work from home conditions for long are now again realigned to the business hubs and corporate offices.
- Foreign investment in commercial real estate: Investment from foreign will continue, yielding strong rent assets, adding to the Indian economy. Even during the lockdown, demands from foreign investors were good for quality assets in India and will continue to increase in the future.
Like many other sectors, real estate has also adapted to the pandemic and to the new normal. The upcoming months are absolutely going to bloom for the real estate sector.