2017: A Good Year For India’s Real Estate Market – The Trends To Watch!

January of 2017 is almost over and demonetization is almost on the end – that’s how I’m assuming things to be – good as of now.

The year has just begun and so it’ll be interesting to watch the trends that the markets will establish by the end, but most of all it’ll be great to watch the real-estate market after what demonetization has done. The questions I have in mind before beginning to talk about real estate trends of 2017 is how far have we come from 2016 and whether or not this is going to be the year for real – estate growth.

So, here’s answering the questions I have in mind as well as the ones that you might think about when you plan to buy a home or property in India, 2017.

How far from 2016?

Literally, just a few days – but practically a lot has changed – 2016 saw the biggest changes in decade, especially on the policy front. Some of the biggest game-changing policies like GST and RERA cleared obstacles and are on their way to full accomplishment. The demonetization move caused a substantial amount of chaos; however, along with the Benami Transactions Act, it promises to bring greater transparency in the real estate sector – and that’s what we’re all looking forward to.

Watching 2017 closely

It is imminent that with the final moves of 2016, the unorganized as well as the little less organized segment of Real Estate sector, like any other trade and services with high cash economy will be wiped out – creating place for only the reputed developers who have good work practices. This is definitely create ‘Demand High’ ‘Supply Less’ situation, particularly in the mid market and the affordable housing segment – given the less number of those handling it at the ground level.

The Trends to Watch – 2017 for Real Estate

The first most important thing is to break the myth and accept the facts about real estate – it is important to get real with the estate market and follow the trends to know what lies beneath it all.

So, here’s a closer look at the trends of the real estate market for the current year:

1. Home buyers will be trending – I’ve already mentioned about the demand high and supply less situation, and all that lies beyond this situation is pricing – which is an extremely critical factor in the current market scenario. The present times are extremely favorable to home buyers to make their move to lock their best real estate bargains. So, when it is talking about the trends of the real estate sector in 2017, the first and the one that you cannot certainly ignore is home buyer being happy about their investments.

2. Transparent housing policies – The biggest and the best game-changing policies like GST and RERA have already cleared obstacles and are on their way to full accomplishment in 2017. With policies like these, it is rather clear and evident that there will now a high level of transparency in the market – which will in some way or the other also increase the trust between buyers and sellers.

3. Luxury Housing – The luxury housing sector grew fastest between 2008– 2012, with about 182 luxury projects been built. People are getting attracted towards plush lifestyles and in greed and need of high-end living. High Net worth Individual’s (HNI’s) Indian Citizenry is expected to be tripled in and after 2017. The villas, penthouses and apartments are with scouting features are basically attention seekers these days.

4. Office and commercial real estate have a bright future – This year’s real estate trends aren’t just restricted to residential buyers, but also focused on office and commercial estate market. Going by the present inclination, good connectivity, existing physical and social infrastructure in the region, availability of campus style office spaces will be determinants for the stipulate, rents and capital values. With all of these being available so easily, the commercial real estate market looks promising.

The Road Ahead – Summarizing 2016 and introducing 2017

2016 is already over and everything that it introduced in its last few months is making moves in 2017 – the real estate market is booming and everything about it is going to be golden. This is going to be the year for residential home buyers, the business merchants, as well as the commercial and office estate sector. The trends look positive and promising and everyone has already got their eyes glued to the sector, so we can just see how it all happens.