Real estate has always been the most profitable way of investment. With the passage of time, real estate evolved fast and in an efficient way with the help of new financial technologies and access to the property market. This has helped the investors to learn more about the real estate sector. There was a time when real estate was only based on advertising. Saying would not be wrong that real estate has emerged as one of the leading sectors in India. Because of online investment platforms and information available in abundance has made investors come up with a mindset of investing in real estate. In fact, there are different ways and aspects in which the real estate market has changed drastically.
Along with its amazing evolution, one more point that needs consideration is its future. SmartOwner`s recent blog post will let you know that the real estate industry holds a lot more for the future. Let’s have a close look at its future aspects:
Better aspects in terms of smart cities
No doubt, the government has announced various projects of smart cities which give the opportunity of development of residential, institutional and commercial buildings. Because of price appreciation, these cities are considered the best option of real estate investment in the coming years.
There will be an increase in rental accommodations
In fast-growing cities, there’ll be an increase in rental accommodations. In cities like Delhi, Bangalore etc., there are IT hubs and commercial hubs where people are employed in large amount. These people will need well-developed accommodations near their working places. This will increase the demand of the rental accommodations and will give the investors a huge return on their rental property.
The rise in property value
It has been predicted by the real estate experts that there’ll be a rise in the property value with the passage of time. There are chances that the prices of the property will also raise from 2 to 4 times because of development in different aspects. This could be a perfect time for those investors who bought the property for investment purposes. They can sell the property when there’ll be an increase in the value.
Investment in the real estate sector by NRI
In the years to come, it has been predicted that NRI would tend towards investing in real estate property in terms of short term or long term rentals. There are many cities where NRI wants to make investments in rental properties. Goa and Mumbai are two important cities where NRI’s are showing interest in buying property as real estate has a tremendous potential to increase the value in the coming years.
Because of infrastructural development, financial technology and easy access to the property market, the real estate industry has seen a tremendous change and has moved towards a smooth future. There are many beneficial things such as rental accommodation, NRI’s investment and increase in property value that can be expected from the real estate market in the years to come.