Each one of us residing in the cities is keen about knowing the future of each sector and real estate is always amongst our priority list. Well, why not? Each one of us has dreamt of a dream house in different cities. But our planning sometimes fails and sometimes they become reality. For this, each one of us should be aware of the future of real estate 2020.
All the agents are curious every year to know what has the new year got for the real estate industry. Each year new trends and government policies show up and each year the industry goes through a major makeover to reach the expectations of the people.
So let us know whether the year 2020 shows a growing graph or a lowering graph for the real estate industry.
Millennials Will Decide The Future
Millennials are assumed to be the buyers of the year. All the millennials will start buying homes for themselves because it will efficient than paying heavy rents each month. This is also because the rental rates have shown an unrealistic hike due to the rising prices of cement and bricks.
Affordable Homes Are The Key
Affordable homes are the requirement of the day and millennials are looking for the same. The low-cost home loans and low rates of Goods Service Tax (GST) will give the boost and power to the millennials.
Real Estate Will Move To Second-Tier Cities
All the leading cities now have run out of space to build something new. This will result in real estate businesses to move to second-tier cities and outskirts of the leading cities. In future, this will be fruitful for the overall development of the country. So maybe the real estate businesses might have to start planning smart about which city to start their ventures in.
Smart homes are the calling of the rich as well as the millennials. Incorporated tech designs, convenient grocery shopping, easy deliveries, etc will be the future demands of the residing people. Each expectation should be taken care of or else one could lose customers in upcoming schemes.
What are smart homes?
Well, smart homes are installed with devices that can be controlled from anywhere and at any time. This can be done using a network connection or a mobile data connection. Also, all the devices are interconnected and can be used by the owners according to their likes and dislikes. For example, people can set the temperature of the air-conditioner before coming home and enjoy the right temperature at arrival. These are the amenities provided by smart homes.
Online buying and selling have already taken roots in the real estate industry. There also online applications to do the same. But the real estate needs to game up with the world’s fast-driven technology and maybe 2020 is just the right year for it.
Artificial Intelligence will take over the working of the real estate and this will be an overwhelming change. This will give a chance to the sellers to enhance the customer experience and increase their sales and potential clients.
Read Also: What Is Digital Transformation?
The sellers can analyze the buyer’s data using artificial intelligence and the buyers can do the same. This will lower the chances of risks on both the parties. Also, hassle-free transactions will finally become a reality.
Indians have a flair towards high-class living and most of them are keen on buying the same. Hence, many realtors are already selling villas and gated community apartments with luxurious amenities that complement the high-class living. The coming years will see more of these concepts and are expected to a run for a few long years.
Co-working and Co-living Spaces
The concept of sharing your working and living space comfortably has seen great growth in the past few years. This is expected to grow according to the inclination of people to the respective idea. Hence, realtors will also divert attention to bring more creativity to this concept and this will definitely help the real estate growth.
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Well, yes we all love specialized and customized things for ourselves. All the sectors have used specialized products as their Unique Selling Price (USP). Real estate will also use this for the growth of the sector with things like logistics complex, senior-citizen housing, student housing, medical areas, sports areas, etc. This is tried and tested idea and more and more countries are likely to use this.
When the entire world is facing a crisis because of global warming and environmental damage, people are looking forward to green and peaceful living. Realtors across the world are using this for the better.
Vertical gardens for each apartment, building covered with lawns, etc are the new age attractions for people. People are trying to save nature and if their dwelling does that, they will be more than happy.
With all the above pointers, we can conclude that the real estate will grow in the year 2020. Though there will be some serious changes in the industry the growth is unstoppable. We all are looking forward to the best of the real estate 2020 industry!