Experts agree that the Covid outbreak has had a positive impact on the real estate market. Recognizing the importance of owning a home, sales grew rapidly. It has brought fence-sitters back to the forefront of securing their investment by buying real estate.
The residential and commercial real estate sector is a prosperous, sustainable, and promising investment niche. Investment costs of commercial properties are slightly higher than residential, but commercial investment lasts a lifetime and promises consistent returns.
According to the latest report by a leading consultancy, India's real estate sectors will experience stable and sustainable growth in 2022 compared to 2021. With the completion of mass vaccination campaigns and minimal spread of infection, confidence in office space and commercial occupiers is higher than ever, and demand is gradually growing.
Another such report highlights that the office space absorption will exceed 60 million sqft. in metro and non-metropolitan cities by 2023. The sluggish demand over the last two years has turned into an agile and flexible working model, which is driving demand for commercial real estate. The leading occupiers would be the large businesses dealing in IT-Business Process Management (IT-BPM), E-commerce, and consulting. The above trends represent a great opportunity for investors to invest in commercial real estate.
Conclusively, the commercial real estate market has always remained a robust but low-key player in the real estate industry. It has proven to be a cash cow and will continue to do so considering the rapid rate at which the Indian economy is growing.
The commercial real estate market has always been a strong but cautious player in the real estate industry. Given how fast the Indian economy is growing, it has been proven and will continue to be a cash cow.