Among the many different
factors influencing the way real estate in developed, transacted and used in
India, there are five big major emerging trends that have both real-time and
long-term significance:
1.
Co-working spaces finding favour with
independent consultants, freelancers
With the growing start-up ecosystem across
India and the central government creating an enabling environment for
entrepreneurship, demand for office spaces matching such firms’ requirements
has gone up in the last few years. Also, due to the rising number of freelance
professionals or consultants in today’s globalised workforce, office
communities or co-working spaces are gaining popularity.
2.
Crowdfunding beginning to take hold
Crowdfunding helps innovators and inventors
raise money for launching their products or services through the Internet. The
practice involves raising small amounts of money online, from many people
across the globe, to finance a project or venture. While other industries have
seen the emergence of a more dynamic crowdfunding scene, real estate’s
popularity still has a lot of catching up to do.
3.
Transparency to increase and help attract
more funding
Two-thirds of the real estate markets
globally have shown progress in their levels of transparency over the past two
years, according to JLL’s Global Real Estate Transparency Index (GRETI) 2016.
India too made improvements in overall transparency scores by moving up four
places, and its tier-I cities are expected to break into the transparent
category in the 2018 rankings.
Out of 109 countries, the top 10
highly-transparent markets alone corner 75% of global investment into
commercial real estate (CRE), highlighting the extent to which transparency
drives real estate investment decisions. At a time when capital allocations to
real estate are growing globally, investors are expecting transparency
standards in real estate to be at par with other asset classes.
4. Retailers looking favourably at office-retail complexes
For quite some time now, retailers have been roadblocked by a lack of available quality retail space. At such a time, office-retail complexes (ORCs) are emerging as alternatives to high streets, and even malls, for some categories of retailers such as F&B (quick service restaurants, coffee shops, fine dining, pubs, etc.) or BFSI (bank branches, ATMs, broking services, etc.).
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