In addition to being the second major contributor to the GDP, the Real Estate sector is also amongst the fastest growing sectors in the Indian economy. Real Estate as a matter of fact has always been an attractive investment option and with the additional support of the new rules and regulations by the government, it has resulted in significant growth in the residential & commercial Real Estate. The government has always had a major influence on the Real Estate sentiments of the investor's and now with a stable government at center; we are hopeful that the lost confidence shall be revived.
The markets of Mumbai, Bangalore and Delhi have seen increased investments and the good news is that the Indian realty sector has been one of the most emerging sectors out of all the developing economies. The year-end saw improvements in the investing patterns in Real Estate in India both in the residential as well as the commercial Real Estate. WithNational and International brands wanting to expand in India, the commercial and retail Real Estate continues to be a favoured destination for all kinds of investors.
The rising income level of the people and with people of all age groups investing in Real Estate, the residential sector is also expected to grow significantly over the next decade.The market is witnessing an increased demand of luxury housing and overall also we can expect the market size of Real Estate in India see a significant growth as well as development.
Keeping in mind the factors like rising income level of people, people of all age group interested in Real Estate as an investment, predicted growth in the manufacturing and the service sectors, affordable housing taking pace etc, we at RE/MAX India believe that the year of 2015 will bring back the lost confidence and have a positive impact on the business environment of Real Estate. With the lowering down of the rentals and the increased foreign investments in India, we can expect a hike in interest in commercial spaces in 2015 and Mumbai, Delhi, Bengaluru can be looked as hot and preferred investment destinations.
With the government taking initiatives to re-build the trust in the consumers mind and ensuring that their investments are not misused, the Real Estate (Regulation & Development) Bill , will ensure that the developers avoid delays in the completion of the projects and may more focus on the completion of the on-going projects before launching new ones.
We can also expect to see a shift in the Real Estate sector on the backdrop of technological advancement. Technology is pushing change in space use, locations, and demand levels at an accelerated pace. But it is now the norm to anticipate, strategize, and respond to new technologies before they are in mainstream.
For the year 2015, the real estate players need to be on the same path with the growing real estate market and need to adapt to a series of mega trends impacting society and the global economy. These mega trends include accelerating urbanization, demographic shifts and the impact of disruptive technological advancements.