With the economy fluctuating, more investors turn to the real estate market because of its resilience. Yet, to get the most out of the real estate market, an investor needs to spot trends before they become apparent to everyone. Over the next one to three years, the real estate market is likely to see a lot of change, from how realtors do business to how people buy houses. Even rental properties are likely to be affected by these trends.
But what are these elusive business opportunities that you should be looking out for? Fifteen members of Forbes Real Estate Council delve into what these trends are and how any investor in the field can make the most of them in the coming years.
1. Increased Demand For More Livable Space
Due to the pandemic, people want more livable space. We have seen a huge increase in demand for residents moving into single-family rental property to gain more indoor and outdoor space attached to their unit, and many are applying sight unseen. With more activities taking place inside the home, homes need to now have space for living, entertainment, career/job work, working out, school and more. – Karen Hatcher, Sovereign Realty & Management LLC
2. A Significant Shift To Agile Workplaces
As India returns to normalcy, we are witnessing a shift to agile and flexible workplaces. Given the uncertainty around the economy and pandemic, large tenants are looking for shorter leases and scalable managed spaces. Demand for fully outsourced, customized offices is here to stay. Occupiers will reduce dependence on a single headquartered building, opting for shorter commitments and lower capital expenditure. – Tushar Mittal, Studiokon Ventures Pvt ltd