6 TRENDS THAT WILL SHAPE THE PROPERTY MARKET IN 2019.
Considering the rate at which the Indian Real Estate Market has been evolving in the past few years, it is most likely to witness some complex and converging trends in 2019 as well. Although this particular sector has seen some massive changes in the tax system, regulatory framework and economic context on account of various reforms introduced by the government. The newfangled transparency has drawn the attention of corporate investors who are now reviewing this market with greater enthusiasm and as a potential investing ground. Now it would be interesting to see how the use of state-of-the-art technologies, intensified competition, demographic changes, and other vital factors are going to influence the investing pattern in this sector.
Will these factors just ensure the survival of the fittest in the property market or the new emerging opportunities will be propitious to the small players too? Under all the speculations and uncertainties that has been driving property market for a long time, here are some of the most contemplated trends which might shape the property market in 2019-
1. Alliance of Large & Small Scale Developers
In order to finish ongoing projects which are stuck due to financial crisis and to save themselves from unfavorable situations in the property market, small investors might be seen joining hands with the big investors in 2019. Consolidation agreements between small developers, landowners and large real estate developers in Lucknow haven’t been a foreign concept in the past years and this trend will definitely repeat itself in 2019.
2. Constant Demand for Office Spaces
Owing to the expansion in the banking and technology sect o r along with a hike in GDP growth, gross office absorption rate grew by 20% i n 2018 and the constant demand for office spaces is expected to prevail in 2019. W i th practices and policies being drafted in favour of Small & Medium Scale busine sses and the constant endeavour to promote startups, this need for commercial spaces is likely to increase even further and keep the market afoot with growth.
3. Increasing interest in warehousing
Apart from constant growth in the demand of official and residential spaces, many investors are shifting their interest to warehousing business, all thanks to GST plans and online shopping trends. Now small disintegrated business networks are being combined with larger units and converted into business hubs.
4. Development of Urban Outskirts
Real estate in Lucknow has seen tremendous Urban Development, as a lot of businesses and other individuals are making their way to the city's suburbs, it is quite evident that real estate industry will definitely experience a suburban shift.
5. Race for Amenities
These days, cutting edge housing projects have engaged themselves in offering new amenities like movie theaters, dog runs, communal gardens and many similar benefits, in order to lure the urban renters. So apparently gyming area and swimming pool facilities aren’t going to cut it down anymore and real estate in Lucknow is surely going to join this race for the amenities in 2019.
6. Demand and Supply Coordination
Meeting the demand of residential units while suiting the budgetary limits of the client has always been a difficult task and it would be a major challenge for the real estate developers in Lucknow to align these two major influencers of the market. It is absolutely possible that real estate in Lucknow will direct its efforts towards making these ends meet in 2019 for hiking their sales.
These were some of the few trends that might influence the market in the upcoming financial year which our experts - from the leading construction company in Lucknow - agree on. Stay tuned to our blogs for real time information and tips about real estate investment.