The real estate market trend in 2021
Real Estate investments are huge investments. At the current situation of the Covid 19 pandemic, we sure have many questions regarding the investments in the Real Estate market. To answer the questions, one of the most important factors to keep in mind is to know the trend in the Real estate market for a peaceful investment.
The Real Estate market had seen a downfall like many other sectors as an impact of the Covid 19 pandemic. If you are looking to invest in real estate in 2021, the following are some beneficial trends to be aware of.
With the pandemic, the trend of working from home has been implemented for most jobs. Millennial home seekers relocate to new cities if the employment opportunities are pleasant. Also, interstate migration for employment is bringing growth for the commercial sector which in turn results in higher residential demand. Demand for housing in big markets will certainly continue to grow faster and builders can generate more supply which will in time increase the prices and rents.
For the home buyers looking for desired locations, the prices vary depending on location. In places that have been hit severely by the pandemic, the housing prices might be lesser because people from out of state are not willing to move there right now. So, even if there is supply, the demand might be lower. The property prices have fallen quite a bit during the pandemic. But, even though the growth is slow, prices are rising again.
By 2025, India is expected to be among the nations which will account for 72% of construction activity across the world. Therefore, better infrastructure and connectivity leading to a better standard of living. As per Global Construction research, on average India will have 1.1 crore annual average house completions by 2025. The real estate market is set to develop on a global scale. Prices in real estate go through high and low periods. Investors can make investments during slow home prices which will give wiser choices based on their budget and personal preferences.
Experts are optimistic about the future of the real estate industry in the country. We are aware that land is a scarce resource, and the fundamental principle of supply and demand means that, with the higher demand and lesser supply, property prices are sure to go up. 2021 has a great possibility for both residential and commercial real estate business.