Among thousands of booming businesses, real estate is one of the most fast-paced and emerging businesses. Even during the pandemic, it saw a record-breaking increase in demand when people finally realized the importance of having their own home.
There has been a steady demand for residential and commercial real estate and it is only growing by the day. The demand was so high that it rose by 40% in the first 9 months of 2022 (Src). Will 2023 witness the same amount of rise in demand for real estate? Well, let’s find out.
The need to buy a home is stronger than ever before. Affordable luxury homes are the talk of the town. As the world is emerging out of the post-pandemic era, it is witnessing a lot of trends in the real estate sector due to the preference for working from home and a hybrid model of working along with desire for fitness & quality family time.
Here are some of the trends to look out for in 2023.
The Preference For Affordable Luxury Homes
To match the increasing demand, developers are not leaving any stone unturned in building affordable luxury homes. Gated communities and smart townships are the most preferable real estate asset of the current times. At Chandak Group too, our endeavor has always been to provide quality homes that are tailored for every budget. From lower ticket homes to premium ones as well. From a 1 BHK to a 3 BHK with Jodi options along with the choicest amenities and conveniences, we ensure we are always ahead of the curve. The continuous growth throughout the year has also set new benchmarks in sales and innovations. Consumers are inclined towards owning a home as it is considered a better investment than renting. The demand for real estate is outrunning supply and the need for smarter infrastructure continues to grow (Src).
A More Holistic Growth In Commercial Spaces
Along with the demand for residential spaces, the need for commercial spaces is also increasing. Increased NRI and FDI investments are also expected to rise. An accelerated infrastructural boost is also expected that will lead to inflated demand in office spaces. “Grade A premium office spaces segment is expected to grow to a staggering 1.2 billion sq. ft. by 2030.” as stated by a real estate giant (Src). At Chandak Group we continue to see a huge surge in demand for our commercial spaces. Unicorn and GreenBiz are testimony to this as with a great product design they have shown phenomenal acceptance amongst their audiences.