Good times ahead for real estate sector, showing signs of recovery: Deloitte report
India's real estate sector suffered a major setback during the first and the second wave of the COVID-19 pandemic but now it is showing signs of steady recovery.
Aditya Kushwaha, CEO and Director, Axis Ecorp noted that "The real estate market is not ready to taper right now and will continue to move in a fast direction amid pent-up demand. Interest rates also have a major impact on the current boom. During these uncertain times, homebuyers are scouting for projects that are spacious, deploy sustainable materials and are giving preference to self-sustaining societies. They are expecting a better experience and long-term connection with their house. We believe that given the changing needs and aspirations of the people, the affordable housing and holiday home segment will continue to flourish in the coming few months".
As people resorted to working from home during the pandemic, the commercial real estate sector was hampered in a big way. Now with the cases going down, the vaccination drives picking up, people returning to offices and organisations adapting to hybrid working models, the commercial real-estate sub-sector is expected to post healthy growth.
