The COVID-19 has put a lot of impact on almost all business segments, and real estate. There was a drastic change in the lifestyle and spending habits of the buyers. Some innovative marketing trends have also been seen on a rise. This has led to a tremendous transformation in the real estate industry, which may directly or indirectly affect both buyers and developers. Despite the uncertainties in the economy, the market has witnessed considerable growth in the past year.

Let’s know about the certain changes that are likely to happen in the real estate sector:

Digitalization:

With the increasing use of technology and online media, real estate agents are now focusing on using digital sources more. As digital platforms ensure business continuity for real estate companies despite the pandemic. People have also been adapted to gadgets like mobiles, tablets through they have access to a lot of information and properties. So to gain more profits via online media, most of the agents are now adopting a digital-first marketing approach to get more customers online. Google and social media platforms like Facebook, Twitter & Instagram are the most popular marketing platforms for realtors. Digitalization will play an important role in the growth of the Indian real estate sector.

Government Revised Policies:

• The finance minister has announced a lot of different to strengthen the construction and housing sector in India. All the contracts of the central agencies have been extended by up to 6 months and take measures to ease cash flows for contractors.
• To ease the affordability of the housing segment for migrant workers and the poor, the government announced affordable rental accommodation schemes.  Various other incentives will be offered to builders, manufacturing units, and other industries to build more affordable housing units.

And many more such incentives have been called by the government to strengthen the real estate sector in the post-COVID times. 

With these frequently changing market trends, the real estate sector is never going to remain the same in the post-COVID world. Moreover, the dream of buying a home of their own has gained much importance in these uncertain times. Also, commercial real estate will witness drastic changes in terms of investment and construction methods. We can just hope that once the pandemic is over, the industry will again gain more strength.