In the aftermath of the new normal, like other economies, wholesale and retail trade, transportation, finance, and insurance sectors, and many others in India were made vulnerable by the pandemic which led to an exponential change in lifestyle driven by wellness first attitude.
The real estate industry, which is already the third-largest contributor to economic growth, is expected to continue its upward trend in 2022. With a re-assessed approach, various sectors gained ground, and exciting opportunities emerged with careful risk-mitigation strategies, charting a new path for the future.
With Prop-Tech taking centre stage since the advent of the pandemic, the focus of next-generation end-user will be towards real estate providers who leverage technology to improve quality of life, social wellbeing and environmental sustainability to create long-term value.
The next decade will be spent with a significant focus on ESG (Environment, Social, and Governance) goals, and as major nations including India lead the effort towards sustainable change, real estate will have a major play in achieving these goals.
The markets are expected to swing in the direction of businesses/developers, who are able to add onto their existing value proposition of providing an asset for live/work, to an asset that creates a service environment focused towards sustainable and quality living and working environments.