During this pandemic situation, many industrials sectors have been the worst hit. The real estate business is also one of them. Many buildings are not getting sold due to unemployment. Property developers are not getting work because new buildings are not been constructed. According, to the recent market research the price of per square feet of any property has fallen sharply. So, today we will be going to talk about what’s the next step for property developers in the real estate sectors during the pandemic situation.
Trends for Real Estate Property Development: 2020
Various measures and initiatives have been taken by the government to lift the real estate sectors as soon as possible. The initiatives are:
- Housing Segment: During this pandemic, housing demand had a steady growth which in turn is a good sign for property development. The government is investing in this housing segment and many developers have joined them in recent times.
- Commercial Spaces: Commercial residential spaces have been increasing rather than residential spaces. The IT sector is the main pillar of commercial spaces. While commercial spaces are been developed at a rapid pace many developers are also getting involved in this commercial property development.
- Alternate Models: In 2020, more REIT launches will be there because many investors are looking for a good gain for the commercial real estate sectors. So, these trends are going to be very useful in India to lift the Real Estate Property Development in 2020.
Property for Development: 2020
Property development means using a residential or commercial land and turn to a place for living or working purpose. Property development is a business process and includes activities which are used for building or renovating a raw land into to finished good for sale. Property is defined as a sector with projects that have huge risks, advantages, and opportunities. Less demand for new homes, low-interest rates can turn out to be good advantages for those who have invested in this sector. If investment continues then new projects and further development will be seen in this property/real estate sector. Also, Sightstone Property Development has come up as a good investor in this real estate sector. Also, the government plays an important role in lifting this sector back to a normal position.
Conclusion
So, to sum up, 2020 will be a positive year for this sector. To bring the sector back in the track we need investors and the support of the government.