The real estate industry has shown a remarkable recovery post pandemic. The growth it has shown is so promising that it is expected to have around 5% capital value growth by the end of 2022. If you are one of those potential investors looking to buy flats in Chennai then this article is for you.
Here we highlight the real estate market expectations and predictions that will boost real estate investment among individuals.
Despite the pandemic, the sale of residential units hit a record 77,000 units in the first 3 quarters of 2021 and 93,000 new units were launched across the country. This was a 47% and 38% increase respectively when compared to the first 3 quarters of 2020. This increase is expected to continue into 2022 with average sales per quarter reaching 35,926 units. This is cemented by a promising demand for residential units among first time home buyers who are taking advantage of the reduced interest rates and other tax subsidies associated with real estate investment.
The following will be the high impact trends for 2022 in the real estate market.
- Grade A developers will continue to retain and garner more market share in 2022.
- The development of new residential units will continue at an even pace and volume that is only slightly lower than pre-covid levels.
- There could be an upward surge in property prices as suggested by the high demand for premium properties.
- Peripheral urban areas will continue to attract more investors as they are relatively less expensive than inner-city areas.
- There will be a heavy emphasis on Green or LEED-certified buildings that pushes developers to ensure their apartments are certified and meet the guidelines for the same.
- More instances of the development of Mixed-use apartments will reap more profits for the developer. The home buyer gets access to a convenient commercial environment that caters to their every need.
- Bringing technology to the residential experience will be a high priority. Technology adds value to the lifestyle in terms of comfort, security, accessibility, and more.
- A shift in interior design that lays emphasis on having dedicated workstations to facilitate the new culture of working from home.
- Slight disruptions are expected due to new strains of COVID but they will not interrupt the demand for residential units.
Lifestyle Housing is a reputed developer of flats in Chennai. We stay on top of construction trends, always looking to create the most luxurious experiences for our customers. We have 2 BHK flats in Porur as an easily affordable option for first-time homebuyers. If you are looking for more or an upgrade, our 3 BHK flats for sale in Porur would be a perfect choice.
