MEDIA COVERAGE
August 3, 2023
The Future & Further About India’s Real Estate Market in 2023!
Mr Rakesh Reddy, Director , Featured Article on Property Times Magazine
As more people try to enter the market, there will be a significant rise in housing demand as we anticipate a healthy economic environment for the rest of 2023. In conjunction with improvements in the employment market and rising levels of disposable income, India’s economic growth, which is anticipated to reach 8% in 2023–2024, is expected to increase housing demand. The Indian economy has shown extraordinary resilience in the face of global headwinds, and the real estate sector has followed this pattern as well.
Even though the possibility of further interest rate increases in 2023 is a legitimate concern, an increasing number of prospective homebuyers are choosing large premium real estate projects, particularly luxurious gated communities, and townships that can easily accommodate home offices and offer an abundance of greenery and open space. More significant demand for second homes and holiday properties has also been brought on by the widespread adoption of work-from-home and hybrid working arrangements.
Additionally, the government is working on critical infrastructure projects, such as building new motorways, airports, and metros, which will benefit the industry. These encouraging economic signs portend well for the housing market’s prospects in the second half of 2023.
Over the past year, there has been a notable increase in the number of integrated gated communities with a budget of Rs. 1 crore or more, and this trend shows no indications of abating. Such initiatives give inhabitants the chance to live in beautifully planned gated communities that are filled with cutting-edge amenities, lush green areas, and easy access to commercial hubs. This model has become a quickly expanding industry. The nuances and intricacies of the industry are consistently getting more ambitious, and our Director Mr Rakesh Reddy opens up about the same in a candid conversation with Property Magazine. Click on the link below to read it all.
