Housing Sector:Housing prices to rise 5% next year: report



Join Our Whatsapp Group
Join Now

Knight Frank India has said that housing prices are likely to rise by 5 per cent next year on the back of improving demand. According to the 2022 Outlook report, the impact of the volatility created by the epidemic in 2021 was seen in the housing sector. But the next 2022 is expected to be more stable for the commercial and residential sectors. Sales are expected to grow next year as well, given the larger home, better amenities and attractive prices.

The Corona epidemic has darkened the clouds of recession in the real estate sector over the past decade, following challenges posed by structural reforms including demonetisation, GST, RERA. Prices will rise by 5 per cent next year due to the contraction in supply and demand due to the rise in house prices.

According to Shishir Baijal, Chairman and Managing Director, Knight Frank India, the residential segment has seen a rapid recovery following the work-from-home trend due to the epidemic.

The warehousing sector will
grow at a rate of 20 per cent. As the e-commerce sector grows, transactions in the warehousing segment will grow at an annual rate of 20 per cent. Which will increase from 31.7 million square feet in 2021 to 45.9 million square feet by 2023. As the demand in the IT sector grows, so will the demand for 11.67 million square feet of space in the next two years. As the co-working culture grows, so does the demand for a convenient office.