Connect with us

News

NCR realty growth trajectory all set to emulate early‐90s, 2004‐05 path: Report 

Delhi, 5th December, 2022: A close look at this year’s festive trends in Delhi‐NCR indicate a sharp V‐shaped recovery for real estate in Delhi‐NCR, says a report by RISE Infraventures. On the back of largely three key developments (end‐user taking over the market, pandemic‐induced lifestyle changes and the sales numbers in the festive this year), the real estate market which has already touched the 2014 peak, is all set to emulate the early 90s and the 2004‐05 growth trajectory, the report further adds.

While the pre‐pandemic market saw investors playing a dominant role, post‐pandemic sentiment has brought back the change in the trend with the end‐users taking the grip over the market right back. 

 “The sharp V‐shaped recovery that Delhi‐NCR market is witnessing indicates good times ahead for Real Estate sector. The near‐total end‐user dominance in the RE market is going to once again kick- off the aggressive, and very welcome, growth cycles seen in the past. The pandemic‐induced slow down seems to be a thing of the past and the Delhi‐NCR market seems to be readying to ride the tail‐winds on to a new high,” said Vishesh Prakash, R&R by RISE Infra.

The pandemic has also changed the profile of the end‐user. With concerns like work‐life balance, well‐being and changing world of work coming to the forefront for professionals and service class alike, there are newer concerns that are impacting the decision of home buyers now. This represents a major shift in the mind‐set of homebuyers, which is also largely responsible for the rapidly increasing numbers of end users deciding to buy or upgrade their homes, and thereby driving the growth.

YOLO (YouOnlyLiveOnce) Index:

1.  Closer to workplace: Among those who are looking at resuming full time working from office, 68% of home buyers are using being close to the work place as an essential parameter to either buy their first home or upgrade their property. 

Advertisement

2. Hybrid, work from home: 72% of those who are looking at a hybrid work arrangement going ahead, are looking at extra space at their home towards a dedicated workstation which affords them some level of privacy. This is both for first time home buyers and those looking to upgrade their existing home.

3. Wellness quotient driving decisions: 82% of home buyers today are looking at parameters that not only improve the family’s quality of life but also safeguards them against another pandemic‐like event in the near future. Some of these parameters include facilities like club house, swimming pool, walking tracks, sporting facilities, etc.

Trending