Real estate demand reaches pre-Covid levels, outlook remains positive: Analysts

By Animesh DNew Delhi (12/12/2008) After being severely damaged by the pandemic-led lockdowns in the late 1990s, industry analysts and insiders claim that the lifting of restrictions and the subsequent economic recovery have boosted domestic real estate volumes.

They expect the trend to continue in the coming year and add that current sector volumes are almost at pre-Covid levels.

Mathew Kurianeranat, Vice President of ICRA, stated that the factors supporting strong recovery in demand will continue to be in place in the short to medium-term.These include increasing preference for owning homes over renting and higher demand for bigger homes with more amenities as well as improved affordability.

The demand trends will continue to be strong into 2022, with new projects being launched by developers to satisfy the need.Pranav Dholakia, IIFL Finances Head for Real Estate Business said that the real estate market has experienced an increase over the past few months, largely due to the rise in economic activity after the second wave.

A favorable environment has been created by the large pent-up demand of quality homes and better affordability thanks to low interest rates.The sector is facing major challenges due to an increase in construction material input costs.

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