Here’s why 2022 will be the year of the home buyer

Shehzin Sheikh speaks with industry experts to find out that the outlook for the real estate sector is bright for the new year

As we move into 2022, the industry expects to see new upward momentum and benefit homebuyers.

Residential real estate sector

The residential real estate sector has recorded a recovery despite pandemic demands in 2021. The disruption caused by the pandemic is slowly setting in and the real estate market is expected to pick up its pace over the next two to three quarters, despite threats from the pandemic. new The variant is sufficiently contained with minimum disruption at the start of the new year. The residential segment is therefore expected to experience capital value growth of around 5% in 2022.

Shishir Baijal, Chairman and CEO, Knight Frank India

The residential real estate market is experiencing green shoots of recovery and is expected to gain momentum in 2022. Reserve Bank of IndiaThe policy of (RBI) is characterized by low interest rates, as well as the incentives offered by developers have given new impetus to the residential market. Sales of more than 77,000 residential units were recorded in the first three quarters of 2021 (January to September 2021), an increase of 47% compared to the same period last year. Likewise, new launches of around 93,000 units were recorded, indicating an increase of 38% compared to the same period last year. Improving market sentiment following an economic recovery has instilled confidence among developers as they strategically launch projects in cities to take advantage of the ongoing demand recovery. In 2022, with strong end-user demand and favorable market conditions, the average sales volume is expected to reach the average quarterly sales of 35,926 units. The increased demand momentum, limited inventories in some segments and rising input costs are expected to push prices up slightly in some residential micro-markets.

– Ritesh Mehta, Senior Director and Head (West and North) of Residential Services and Development Initiatives, JLL India

Going forward, the main trends likely to shape the residential sector in 2022 are as follows:

Category A developers will continue to dominate the residential market and gain more market share in 2022;

Additionally, if the current momentum continues into the coming year and there are no disruptions, home sales and residential launches in 2022 will be only slightly below levels. before Covid-19 (the peak year of 2019), or even back. to pre-pandemic levels of 2019. According to our research, 2019 reached a new peak of residential activity after the last peak (of 2014) with over 2.61 lakh units sold and nearly 2.37 lakh units launched in the ‘year ; Pressure on input costs and supply chain issues could lead to a price increase of between 5 and 8%; The market will continue to be driven by end users and the outlying areas of cities will remain active in terms of residential activity – both supply and demand. – Anuj puri, president of the Anarock group

A New Year’s wish for all of us I wish all businesses to prosper in 2022 and we should all be free from the Covid pandemic. Over the past four to five years, we have seen significant growth in the housing sector. I hope that there will also be a good demand for apartments in 2022. Both the state and central governments are providing good support to the real estate sector. If we get more aid, that will also help the growth of the country. In this New Year, I want people’s dreams to come true so that they can own a home. My suggestion is that instead of paying rent of Rs 18,000 to Rs 25,000, people should invest in apartments and use the rent amount to pay EMI so that they can own their dream home.

SP Dayanand Executive Director DS-MAX Properties Pvt. Ltd.

Commercial real estate sector

While it is too early to predict what the implications of the new variant will be, 2022 will likely be similar to 2021, for the real estate industry. The commercial real estate sector could go through the third possible wave, with demand for managed office space remaining strong in 2022. As companies continue to optimize real estate capital and operating costs, they will renegotiate in their spaces. existing ones or will move to comparable alternatives. Based on our surveys and employee feedback, many organizations have adopted flexible working models. Most employees have opted for a three-day work week.

Naveen Nandwani, MD, Business Advisory & Transactions, Savills India – Times Property

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