A survey conducted by R&R By Rise showed that the mood of the buyers clearly points to good times for the real estate segment in Delhi-NCR. The real estate market in Delhi-NCR is expected to grow exponentially in 2023, with some interesting trends shaping the future of Delhi, Gurgaon, Noida and the periphery areas that are all gaining traction like never before. Real estate continues to be the best investment option in Delhi-NCR, with approximately 40 per cent preferring it over other investment options.
The real estate market in Delhi-NCR is expected to grow exponentially in 2023, with some interesting trends shaping the future of Delhi, Gurgaon, Noida and the periphery areas that are all gaining traction like never before. Real estate continues to be the best investment option in Delhi-NCR, with approximately 40 per cent preferring it over other investment options.
One of the key findings of the survey that emerged points to the millennial population being a key player in growing real estate market in Delhi-NCR. Those aged between 30-44 years, are driving the demand for both, residential and commercial real estate. Over 70 per cent respondents indicated that they are looking at buying a home in the next couple of years.
Demand for residential realty precedes commercial, with 45 per cent respondents looking at picking up residential, and 35 per cent looking at tapping into commercial spaces respectively. Around 46 per cent of the respondents indicated that they are looking to pick up their first homes in the next two years. Over 29 per cent plan to upgrade from their current homes into bigger better space, with more lifestyle and wellness amenities. The demand for 2-3 BHK witnesses great traction with 65 per cent opting for either of the two options.
Real estate assets and investment vehicles will be created for the sole purpose of investing and making money, and this trend will dominate the market. In fact, commercial real estate, which generates income in the form of rentals, ROIs, and income-producing properties, has also become a sought-after investment option. Infrastructure spending on roads, metro connectivity and other such amenities have given a further impetus to the real estate ecosystem in India. Besides, foreign investment in Indian real estate is also playing a major role in keeping the India real estate market buoyant.
