By Shravan Gupta.
It seems 2022 is going to be a challenging year for real estate. One is seeing a revival after a gap of 2 years and most of it seems to come from the housing sector. People have realized the value of possessing a home as sales have gradually picked up.
Despite the housing, the segment is facing imminent challenges. Experts like Shravan Gupta feel that issues need to be addressed at the earliest to reap dividends in the coming months.
- Volatile market.
The market plays a vital role in real estate pricing. It has been suggested that the market is going through ups and downs which affects the housing prices. In such times it is necessary to address these concerns and pave the way to enhance housing sales in future. Shravan Gupta feels market volatility will determine the future of real estate. Housing sales have been growing at a steady rate but are going to rise due to an elevated cost of building materials.
It is vital to address the need for a volatile market at the earliest to boost real estate.
- The advent of work-from-home culture.
One factor which plays a vital role in slowing sales is the emergence of work-from-home culture. Since last year, the trend of work from culture has been on the rise. Real estate experts feel that this trend is likely to continue till the beginning of 2023. People prefer to live in mid-level cities as companies allow work from culture. In some way, it has affected the sales in Metropolitan cities like Mumbai and Delhi.
It is going to be challenging to address the need for housing in smaller cities.
- Price rise in the housing sector.
One sector which is going to be impacted by high prices is the housing sector. Shravan Gupta feels that the price will rise in the coming months. The main reason for the costly houses can be attributed to:
– The rising price of the construction material.
– The varying choices of people.
– A sudden surge in housing sales.
It seems to affect the prices in major Indian cities like Mumbai and Delhi. The housing price may stabilize shortly if the price rise can be contained.
- The GST factor.
GST is levied on the new houses. GST may elevate the prices in the coming months. The prices may also vary according to the location and the state taxes. Shravan Gupta feels this factor may play a vital role in housing sales.
The future of real estate is dependent on housing sales. In the long run, it will be fruitful for real estate. MGF is very bullish about real estate and is upbeat about it.
Website: https://shravangupta.com
