India has been rising in the real estate market for a while. Real estate is one area where Indians have been showing their industrious work ethic. The real estate sector has seen both growth and downfall. As we know, the government has introduced so many reforms that made a huge difference in the sector. The tax reforms were the major change that grew in the real estate field.
It is important for a real estate dealer to understand the changes in the field now and think about their clients for a more logical and rational decision, whatever it might be. If the dealer keeps their eyes open, they can guess the upcoming massive changes and their impacts in the sector. Below is a list where we try to list out the most visible and evident trends in the real estate market in the year of 2019.
- Youth opting home ownership
This might be the biggest positive note on the rising significance of real estate. There has been a common misconception that young adults are not ready to buy a home or that they are not financially set to own a home. But they are also thinking about their previous generations and have started considering and taking care of their future. They have realized that buying a home on their own will provide them the opportunity to gain the first step of standing on their own. This trend doesn’t seem like it might fade away anytime soon.
- Single family rental asset
The need for houses for single families has been on the rise for a while. This is a rather permanent trend that will provide a lot of positive feedbacks. Most of the families out there have been reducing to a small number of members and the need to fetch them all a home is relevant. The young adults who try to buy a home on their own for the first time will be ones that makes a profit here.
- The rising price of homes
This trend is a bit alarming but this has also been a very clear trend in the real estate sector in 2019. The prediction is that the prices are going to introduce in the coming years too, with no chance for a downward growth anytime soon.
- Imparting technology in real estate
There is no field now where technology hasn’t played a huge part. Real estate is also not behind in this. With the introduction of technology, houses are built to the point where the human element will be reduced to a meagre part and the rest might be undertaken by the technology. The advanced technology works in the area where building elements that are manufactured using technology can be brought to the site and the work can be continued from there with the assembling of those parts.
- Government intervention
Governments have always considered providing homes to the needy people. Building homes and secure asylums are their way of serving the public. So many plans have been introduced here to build homes. When the government is involved, the trust factor will be high. This trend has been in the country for a while and won’t diminish anytime soon. Along with the government, a lot of other charitable organisations also take part in the construction of homes that might possibly add on the advantages for the real estate sector.
- More homes for sale
There has been a lot of ads in the classifieds and online where the buyer wants to sell their home. There will be more homes for sale as per the trend is moving. People buy homes for their current needs and will possibly be the first thing that they sell when a need rises. Houses have that bank ability that someone will be looking for a home. There is already a trend where homeowners rent out their homes and settle in another house for rent.