Confederation of Indian Industry (CII) & Cushman & Wakefield are hosting a series of virtual seminars on the What’s Next for Indian Real Estate sector. The seminar on the topic – Reimagining the Indian Real Estate in a Post-COVID World, was held on 7 October 2020, where the speakers delved into the various performance indicators across key asset classes and discussed the emerging trends in real estate. The webinar had an expert panel that engaged in an insightful discussion. Please click here to replay key takeaways:
- Impact of COVID-19 Indian Real Estate
- The real estate will have to reinvent itself through better utilization of space in residential and commercial segments.
- As space becomes a key determiner of health and safety post the pandemic, real estate planning will revolve around creating open spaces that adhere to the highest standards of safety, security and hygiene.
- As remote working becomes more of a norm than an aberration, commercial real estate will have to adjust to the new realities and equip itself suitably to remain equally useful for the users and commercially viable for investors.
- The demand for the warehousing sector has increased after the pandemic broke out.
- Technology:
- While it has already helped the sector scale new heights in the past two decades of real estate planning in India, technology is set to assume an even more crucial role.
- Technology will not only facilitate purchases but also help developers speed up construction work, which was hitherto a major concern area that needed to be addressed
- Increased dependence on technology also leading to a boom in the demand for Data Centres.
- Residential Sector:
- Demand for residential real estate to remain robust in view of the projected population increase; virtual transactions have gained traction during COVID-19, and are set to become the mainstay.
- Supply of homes likely to be reduced because of the restrictions imposed in view of the ongoing conditions; this might result in price rise . Premium housing likely to deliver better returns.
- Real Estate & Investments:
- Investor confidence in Commercial Real Estate(CRE) remains largely unaffected as seen by the recent REIT activity in the market; the sector may expect return of normalcy by 2021.
- Raising funds might get tougher for residential players
