Leader: Over the past couple of years, the Indian economy has seen constant growth. The set of reforms announced by the government have offered visibility to the economy.
Over the past couple of years, the Indian economy has seen constant growth. The set of reforms announced by the government have offered visibility to the economy. Interestingly, the domestic and international players are willing to make major investments. On the whole, the long term picture looks positive.
We’ve highlighted the top trends in the Indian real estate market in 2018.
Growth of co-working spaces
With the propulsion of start-ups across India, the central government is creating an ideal atmosphere for entrepreneurship in India. For example, there has been an increase in the demand for office spaces over the last few years. Moreover, with the growing number of working professionals—co-working spaces and office spaces are gaining importance.
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Co-working spaces are accommodating start-ups at an economical cost, especially in tier-2 cities. Few work places function as incubation centres in the urban centres. Importantly, start-ups leasing real estate to tenants is also catching. At present, there are approximately 100 players in India. This trend is catching up in India.
Crowdfunding beginning to mushroom
Crowdfunding helps inventors and innovators to raise money for launching services through the internet. It comprises raising money online from people across the globe to fund a project. In other industries, crowdfunding has become popular, but it is going to pick up in the real estate market.
According to few specialists, crowdfunding is in full momentum in USA and China, where the amount of money raised and the size of deals occurring has spiked significantly.
Nevertheless, crowdfunding is in the nascent stages in India. With a good amount of digitalization and transparency, investors are likely to invest, if they can expect a good return on investment. The sector will grow in the coming days.
Technology changing real estate requirements across the globe
Technology oriented workplaces are getting importance across the globe. For example, there has been expansion of IT services, right from wiring, cabling and a several items in technology, consisting access devices, infrastructure, mobility, upgrades and business specific app. Many firms are making an investment in IT infrastructure. On the whole, technology is changing real estate needs across the globe.
ORCs (Office Retail Complexes):
Also, there has been growth of office retail complexes. For instance, the development of ORC, is an example of the change in the mindset of developers. ORCs interact well with the office crowd and for retailers it is a good agenda. The retail centres function as the epicentre for the community for their shopping needs. This trend is occurring in Tier-1 cities and will expand to other cities in the coming days.
All said and done, these trends are catching up across cities—Delhi, Bangalore, Kolkata, and Chennai.