Top real estate trends to observe in 2020

The real estate industry is considered as one of the most embraced sectors worldwide. Besides, it has gained the position of being one of the most significant elements of the Indian economy. This domain has been progressing towards a substantial change with policy changes. There is an increase in demand for both residential and office spaces. 

Technological change

Technology has demonstrated significance in the progress of the real estate domain in India. Both the buyers and sellers benefit from it. In fact, the situation is far better than a decade ago as far as access to relevant details, customer service etc., are concerned. Technology has definitely elevated the standards of the construction quality and within a short span the customers can get their houses built. Augmented and virtual reality is gaining momentum. Transparency and accessibility are again being given priority in the industry. 

Shift in concentration on consumer demand

Nowadays, affordability and trust are the two important aspects that are adopted by the developers. Meeting consumers’ demand has become the focus of these developers. There are also instances of builders willing to involve in consolidations, joint ventures etc. 

Online approach with personal attention

In this present Internet age, most of the people begin their home search online. In this regard, it’s not only important to view good photos of the property but also get listed on several sites. Besides, gaining the personal attention of an experienced professional becomes necessary. 

Millennial presence

Home ownership is regarded as a great achievement by Indians. Though the Indian millennials have demonstrated a good involvement in the real estate industry, they are being highly alert regarding this. They want this home ownership process to adhere to their exact needs. They don’t mind taking more time to get the ideal home. 

Co-living spaces

Co-living spaces are gaining momentum in India, especially in the Indian metros, mainly because of the millennial population. There is an inclination towards sharing in preference to owning property.

Government initiatives

The concept of housing for everyone paved the way to the broadening of India’s affordable housing sector. There are some government policies regarding credit subsidies here and the millennial sector is welcoming it. In fact, several millennials are moving from rental housing to buying their own homes. 

Interest in home staging 

Buyers are choosy and this concludes that a well-staged home will shine in the crowd. There should be enough care given for decluttering the house at this point. 

Video marketing

Buyers want to view videos of the homes they are going to purchase. So you can involve in virtual tours and video marketing. 

Immediate need for value-added advisory

The real estate scenario is sometimes unorganized and there is a great need for trustable advisories. These advisories can provide an unbiased opinion on the trends in real estate. 

Beyond being an industry that is just focused on brick and mortar the realty sector has embraced a service-oriented approach. It becomes essential to match the services as per the changing scenario of the market.