Will real estate be in demand in the future?
According to Urban Land Institute, real estate market conditions and values in the U.S. are expected to rebound in 2021 and trend even higher in 2022, with single-family homes outperforming other sectors such as commercial, retail, hotel, and rental.
How is real estate market in Chennai?
Of the total sales, 40\% were concentrated in the ₹45 lakh to ₹75 lakh price bracket. Unsold inventory in Chennai, which stood at 37,478, saw a marginal increase of 3\% year-on-year in Q2 2021 due to muted launches, coupled with stagnant sales velocity. It stood at 37,697 units in the first quarter of 2021.
What is the future of Chennai real estate market in 2021?
The annual reports have also shown that by the end of 2020, the real estate market has almost bounced back to normal, and the momentum is expected to continue in the year 2021. The Chennai real estate market is driven by targeting the end-users and supported by the growth and development of several industries and other commercial activities.
What is driving the growth of the real estate sector in Chennai?
The development made in the infrastructure and connectivity, such as metro rails has also fueled the real estate sector’s growth. Chennai is one of the leading markets for real estate sector. In 2019, Chennai witnessed a yearly rise of 8\% in the residential property sales with south Chennai seeing the maximum sales number.
Who are the key players in North Chennai real estate market?
Dominant market players such as Indian Oil, Chennai Petroleum Corporation, and Manali Petrochemicals and IT and ITeS corporate houses have been large contributors to the real estate market in the North Chennai. The research report of ANAROCK showed the launch of 5,150 housing units between 2015 and 2019.
Will the real estate market be a buyer’s market in 2021?
The market experts have projected a mixed view on the real estate market being a buyer’s market in 2021. Considering the current environment, there are chances of the real estate market in 2021 being a buyer’s market with buyers influencing the property’s price.