The real estate sector had been hit pretty severely by the pandemic but now is showing signs of a resurgence. Here are the top five emerging trends in the residential real estate sector:
Ready-to-move-in homes - The lockdowns that were imposed during the pandemic have resulted in homebuyers looking to invest in ready-to-move-in homes. This is in order to avoid delays associated with project delivery. While pre-launch projects still have buyers, a majority of investors are opting for ready-constructed homes.
Areas with lighter population density - One emerging trend is that buyers are looking for serene and calm surroundings, ideally away from the noisy city. Homes located in the peripheral regions are coming into the limelight as they are away from the bustling city life. With people recognizing the need for social distancing, communities with a lower population density are becoming more desirable for investors.
Home offices - The work-from-home culture became a major force during the pandemic and subsequent lockdowns, and most companies advocated this. With this in mind, developers are now developing residential dwellings that incorporate a separate design for work areas in homes. People today want to own a big, spacious, and luxurious home that can provide them with the perfect work-life balance.
Eco-friendly initiatives - Harmonious living is today an emerging lifestyle trend, and individuals are aware of the impact they have on the earth. Homebuyers today are looking to invest in properties that incorporate eco-friendly options like solar energy, rainwater harvesting, and waste management. Real estate development companies are reducing their carbon footprint and providing home investors with the green, environment-friendly homes they desire.
Amenities and technology - Residential real estate developments today come loaded with several added luxurious amenities, which are fast becoming necessities for home investors. Luxury homes today incorporate smart technology, and every function in the home is effectively controlled via apps and smartphones.
Godrej Properties prelaunch apartment is Godrej Splendour.