If I talk about India and other growing countries the key factor to watch out for is real estate. In any part of the country, real estate plays a great role. The people who have their ancestor's properties are just sitting and minting money all because of this real estate. We have already seen the real estate boom in the Tier 1 cities and with Work From Home and other things into consideration we will see a further boom in the real estate in Tier 2 or Tier 3 cities.
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We have seen the real estate industry face some problems in recent times especially in India with demonetisation, covid and other factors. Along with that, there are ever-increasing prices of the interest rate and other factors which has some push back the real estate growth and thus it is not growing as it should. To be honest, the industry is not stagnant also, some places it is growing but overall its a stagnant.
Homebuying is getting costlier with prices of the real estate going up, the interest rate going up as well as the savings going down because of inflation. But what I know is that there is some government initiative toward real estate might take place and with that housing can be affordable and available for everyone. And with RERA's (Real Estate Regulatory Authority) introduction, bringing transparency to the whole real estate sector.
With these things the real estate is becoming more buyer-centric than the seller centric and the buyer will get all the information and have a say if he wants to buy it or not. And after Covid, there is a lot of migration happening to smaller cities and because of that, we will see the real estate demand picking up in every city big or small and will not be only in the big cities.
