3 real estate trends that are changing the market forever
At a time when the real estate is witnessing turbulence, the players in the sector are becoming more creative to attract potential buyers for their projects. Gone are the days when advertising on highways and city roads were considered to be prominent when it came to marketing, now the world has gone digital. Now people are more concerned about getting better quality and services while purchasing the property from developers.
At present, several prominent online players are catering to fill the gap in between the developers and the buyers such as Housing.com, India Property Journal, Magicbricks, etc. Some of them are listing the property posted by realtors on their portals so that the potential buyer can have a look of the property online, and the realtors could get the leads, while other portals such as India Property Journal post almost every update about real estate sector.
Co-working and co-living
On the other hand, new forms of realty development, such as co-working and co-living, is also changing the framework forever. It is expected that the segment might touch a lakh crore market within a few years. Many experts believe that co-working and co-sharing spaces are an appropriate solution to the mobile population of India which are in millions, especially students and millennial professionals. Many start-ups are operating in that space and are attracting significant investments.
Real Estate Investment Trust (REIT)
Initiated by Blackstone and Embassy in March 2019, REIT opened up a fresh investment avenue for the investors in commercial properties, not only in India but from across the world. Initially started in the US in 1960, is now adopted by more than 35 countries from around the globe. REIT has witnessed higher returns than equity markets over the long term. In India, REIT has proven to be successful even in the time of overall economic distress.