2021 was a complete recovery year for the real estate industry in India. New launches and house sales both showed tremendous growth and improvement in the months from July to September. The strong momentum in the Indian real estate market is expected to continue flawlessly throughout 2022, with housing sales likely to reach much above the pre-pandemic levels. The next COVID-19 wave, which is challenging to foresee, could be the only hurdle in the recovery process.
As of today, the proptech market has evolved rapidly beyond enabling online property searches to offer end-to-end solutions to customers. Apart from connecting the customers with the best property deals, new-age real estate platforms like Clicbrics offer multiple services like Virtual Tour, property estimation tool, i.e., Clicworth, etc. The maximising use of top-notch technology in the real estate industry has marked a turning point in some Indian cities that have now made them the hottest real estate market of 2022.
So, let’s get an insight into the 5 hottest real estate markets of 2022-23
1. Mumbai
Mumbai is one of those cities in India which has enchanted every home buyer with its liveliness and charm. No matter what your financial status is or from which background you belong, once you start living in Mumbai, it accepts you with open arms. While the city is well known for real estate investments, it is not really known for housing big-sized apartments or flats.
Also, another reason why Mumbai is becoming the new hub for real estate investment is the construction of the airport in Navi Mumbai. The construction of this airport is expected to be completed by 2024. This will create employment opportunities and attract massive residential and commercial real estate investments in the city.
2. Hyderabad
Another city on the list of the 5 hottest real estate markets of 2022 is Hyderabad. With a booming IT sector, Hyderabad is a city continuously witnessing a lot of foreign outsourcing, which directly implies that the job opportunities in the city are excellent. This has significantly contributed to a hike in the city’s population, with residents considering Hyderabad a great city for residential and long-term real estate investment. The growing IT sector in the city has also resulted in the growth of commercial real estate in Hyderabad. Like all other cities stated in the list, Hyderabad also boasts top-grade civic and public amenities and infrastructure.
Some of the great localities to invest in Hyderabad include Gachibowli, Kukatpally, Miyapur, Manikonda, etc.
3. Bengaluru
Like Hyderabad, Bengaluru is a great city with a booming IT sector. Popularly known as the IT capital of India, Bengaluru, formerly known as Bangalore, is another focal point of the country’s IT revolution that has brought the current expansion and success in India’s living conditions that we all are seeing today. Despite being one of the top cities in India to work in, the real estate market rates here are pretty affordable. With a handful of new amenity and infrastructure real estate projects involving upcoming Bengaluru Metro routes and housing projects in the International Airport area, Bengaluru is one of the best cities to invest in.
Some of the top localities for lucrative real estate investment in Bengaluru involve MG Road, Koramangala, Whitefield, Lavelle Road, etc.
4. Pune
Today, Pune has emerged as one of the fastest developing cities in the country. There was a time when Pune had a plentiful of untapped land, but top builders in Pune are now focusing on creating low-cost projects. As an outcome, the real estate market in Pune is picking up smoothly. Besides being home to some of the top educational institutions in India, the availability of excellent public amenities and great weather conditions has heavily contributed to its popularity. Due to this reason, more and more investors are keen to invest in Pune.
For real estate investment, localities like Magarpatta, Kharadi, Warje, Koregaon Park, etc., have always been the first choice and will continue to be the same in 2022.
5. Chennai
Chennai is a rapidly developing metropolitan city, and there is a continuous influx of people in the city. And this encourages huge demand for residential real estate in Chennai. As per research, Chennai has seen tremendous growth in the purchase of premium apartments in the city. Moreover, the real estate sector in Chennai is gaining momentum just because of urbanisation, IT, and the availability of affordable housing.
Besides this, Chennai is also attracting foreign investments due to the growth of the real estate market. Anna Nagar and T.Nagar were once the only retail centres in the city, but now, quality retail space is starting to fill in the local areas. Many ongoing real estate projects in Chennai are of high-rise sky buildings because most residents in Chennai prefer apartments over villas or bungalows due to amenities and better safety.
Apart from the cities above, you can also take into consideration the cities like Delhi, Noida, Ghaziabad, Lucknow, etc., for real estate investments. All these cities together result in lucrative returns on investment.
So, what are you confused about? Get in touch with Clicbrics now and buy the property of your dreams in any of the hottest real estate markets of 2022. We are sure you won’t regret your decision later as we help you find the right property in the right location.
Also read: 6 Important things to keep in mind before investing in real estate