Proptech, short for property technology, is the application of technology in the real estate industry. This can include everything from online platforms for buying and selling property, to building management software and virtual reality tools for property viewing. In recent years, proptech has been growing rapidly in India

When the global pandemic struck in 2020, it came with a sense of universally shared uncertainty. As systems and industries — and even society at large — ground to a halt, no one what the future would look like. The world eventually began to imagine the New Normal, a state of affairs where we made adjustments to the way the coronavirus had impacted our lives and then carried on. Now that two years have passed, this New Normal has become a reality in many fields.

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.

The global pandemic was a disruption that seriously changed the way we lived our lives. From schools to offices, from entertainment and essential activities, every sphere of human behaviour was affected by Covid-19. The real estate industry was no different in this regard. When the pandemic hit and lockdowns were put in place, many metro cities saw an exodus of professionals returning to their native places after their physical presence in the office was no longer required.

This year has seen the Indian rupee slide to unprecedented lows against the US dollar. For the first time ever, the price of a single USD reached 82 INR. Though the rupee recovered slightly, it still remains over 80 INR against 1 USD. This has created a situation where Indians have to think twice about buying foreign currency for trips abroad. However, on the other side of the fence, Non- Resident Indians (NRIs) who earn a living in foreign currencies can benefit from the conversion rates.