06 Mar 2022

Luxury real estate market to boom in 2022

The world has come to terms with the pandemic now. The disruptions and ill-effects of unwanted but unavoidable lockdowns are slowly subsiding. With the markets reopening, the economy is also regaining its lost steam. The real estate sector, in particular, has benefitted from the upheavals of the Covid-19, and the trend will continue in 2022. While all the real estate segments have received an uptick, reports suggest that the luxury segment would receive a phenomenal push in 2022.

HNI homebuyers are upbeat about investing in luxury properties. Last year, the real estate market started on a high note, but the emergence of the second wave robbed it of momentum. The real estate market was momentarily impacted while the country was dealing with a significantly more severe spread of Covid-19 cases. However, the sector bounced back almost immediately with a revived surge in demand. The sales velocity continued through the year and has helped the segment reduce its burden of unsold inventory. Early this year, the Omicron threat emerged as a threat to the economy, and experts believed it would significantly impact the country and cast its shadow on the real estate sector. However, it is raring to maintain its growth acceleration. The reduction in cases and the learnings from the past waves had prepared the segment, and it has applied them to retain the buyer’s confidence. The luxury real estate segment witnessed an uptick last year, and it is expected that the trend will continue in 2022. The Luxury Housing Outlook report by an international realtor suggests that 67 per cent of HNIs are looking at making investments in luxury homes.

Source : https://timesofindia.indiatimes.com/blogs/voices/luxury-real-estate-market-to-boom-in-2022/