Here are 5 housing trends in India to watch out for in 2023
News Desk | Bengaluru | 22 December 2022
The long shadow of the pandemic, the looming recession and changing work patterns are heralding newer patterns of housing in India. Here’s what we expect the property market to look like in 2023.
# Increased demand for affordable housing:
The demand for affordable housing is expected to continue to rise in India in 2022, driven by factors such as urbanization, population growth, and rising incomes. In response, developers are likely to focus more on building affordable housing projects, including through the use of innovative financing and construction methods.
# Growing popularity of co-living spaces:
Co-living spaces, which offer shared living arrangements for individuals or families, are becoming increasingly popular in India. This trend is driven by factors such as rising property prices, the need for flexible living arrangements, and the appeal of community living.
# Shift towards green and sustainable developments:
As concerns about climate change and environmental sustainability continue to grow, there is likely to be an increased focus on green and sustainable developments in the Indian real estate market. Developers may incorporate features such as solar panels, rainwater harvesting, and energy-efficient appliances into their projects to appeal to environmentally conscious buyers.
# Rise of mixed-use developments:
Mixed-use developments, which combine residential, commercial, and recreational spaces in one location, are expected to become more popular in India in 2022. These types of developments offer convenience and a sense of community for residents, and can also be attractive to investors.
# Increased demand for rental properties:
The demand for rental properties is also likely to continue to grow in India in 2022, driven by factors such as rising property prices, the growth of the gig economy, and the increasing mobility of the workforce. This trend may lead to more developers focusing on building rental properties, as well as the growth of the professional property management industry.