Trends Shaping Real Estate Market in 2018

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Trends Shaping Real Estate Market in 2018
December 18, 2017 fr Real Estate property
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While a huge section of the developers has
actually called 2017 as the year of
consolidation, 2018 could be the year of
confusion. The controlling charges of 2017 have
left numerous developers confused over the
streamlining the processes. On the other hand,
the buyers are confused as all reports of
transparency in the sector have not become
visible on the ground. In meanwhile, the property
selling and buying are expected to stay at the
standstill providing the job market is not
actually picking any providing industry. Policy
changes short-term pain but the long-term
gain However, the developers remain optimistic
while citing policy changes like Real estate
(Regulation and Development) Act (RERA), Goods
and Services Tax and demonetization, the Benami
Transaction Act as well as the infrastructure
status to the affordable housing. It is being
maintained that 2017 has been a positive year,
irrespective of the short-term turmoil. It is
pretty authoritative that there is the huge
outlook of 3 to 5 years to see important outcomes
to continue the investment in the growth story of
India. In terms of the reforms, RERA will impose
accountability, timely delivery and transparency.
Once this, however, demand/supply mismatches the
catches up, RERA compliant homes will actually
boost the consumer's confidence in the real
estate sector. Policies such as REIT, RERA, and
GST will certainly boost the confidence of the
buyers towards the real estate sector. Trends
that are seen in 2017, such the growth of
affordable housing segments as well as the
co-working spaces and transformation of office
sector which will continue. If one is loyal,
honest and transparent, you certainly will be
rewarded by customers. One thing that is to be
avoided, that you do not stretch yourself
regarding the debt.
Developers to focus on reevaluating their
business models
2
One of the highlights of the year 2017 was the
fact that numerous developers do face tough times
they excessively expand the scope of work without
complete planning. Now, the developers are
streamlining the professional practices as well
as adopting the transparent mode of the dealing
with the customers. They certainly have
understood that being only the product and the
promise-based industry, real estate is much more
about the services as well as addressing the
issues and concerns of consumers in a much more
realistic manner. Also, the intent is to order
customers requirements and focus on the actual
problems. Furthermore, as of numerous government
enterprises, buyers have well-knowledge and are
informed-well of their rights. Prime real estate
trends in 2018 There is an expectation of over 7
distinct trends to define the realty market in
the coming year. Oversupplying defeats affordable
housing While the affordable housing is the
prime focus of the real estate market today, not
each and every mass residential project will work
particularly those that proffer bare-shell units.
A case in the point, it is the markets such as
Noida Extension in Delhi-NCR and New Rajarhat in
Kolkata, where the homes at the rate of around Rs
3,500 per square feet have some takers. Research
to define demand The developers will actually be
left with no specific choice but get into some
serious research regarding the demand in the
provider market. Only the correct property is the
correct rate point, will actually sell. One can
sell the luxury homes in tier-2 cities, if the
builder knows his audience their buys parity as
well as customizes his offerings. Affordable
luxury The affordable luxury will be the driver
of the market in the coming year. In some of the
non-descript markets with the oversupply of the
mass homes, the projects that are actually
selling are ones where the builders have tried to
add on some aspirational elements to
projects. Smaller projects The developers are
actually left with no choice but to go for some
smaller projects or to split huge projects into
different phases. This would only save the
penalties from RERA but would also take proper
care of cash flows as well as allows for the
course corrections if it is needed. Also, the
developers will strive to avoid the inventory
overhang in the coming year. Focus on the
execution The coming year, 2018 will certainly
be the year of execution. With a huge number of
projects that are running behind their schedule,
the year would see some good supply of the homes,
across the prime markets in India. The developers
will prefer to the deliver the existing projects
primarily rather than going for new launches. The
land bank has turned out to be the liability for
numerous and thus the developers will be
unwilling to invest in the pipeline of over 10-20
years. Joint ventures, joint developments, and
consolidation The joint venture or joint
developments model will actually become prominent
in 2018 and there will be prime industry
consolidation. Some of the distressed, as well as
the fiscally mismanaged the developers, will be
taken over by huge players. This certain
3
trend could clean up the market to a lot of
extents.
Growth of tier-2 cities Growing the traffic
congestion in the cities may actually reduce the
production time of the employees. Along with the
bigger compensation that is paid to the migrant
workforce especially in the metro cities is
expected to force the organizations to evaluate
the cost of doing the business per square feet
and consider the prospects of functioning out of
tier-2 cities. Thus, the demand would force the
builders of commercial projects towards the
tier-2 cities. While these changes may actually
not be comforting for the developers for those
who are expected to succeed, it will be ones who
hold the changing of the dynamics of the real
estate market.
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