Some Real Estate Trends to Rule in 2021 The real estate industry has suffered a lot due to an unprecedented pandemic. Even though 2020 was challenging, the real estate sector can potentially grow in the economy. Most purchases depend upon how the property is appraised and, if not for all, at least for the contract price. In case you are thinking to buy or sell property, then here’s a list by Naftali Horowitz Appraiser explaining some trends in real estate that will prevail in 2021:
Influence of Builder’s Confidence on Sales: Corporate developers who have a strong financial backing and brand equity will gain a higher market share. Less Populated Areas getting popular: Due to the pandemic, there is an increasing tendency to move away from the populated and polluted city-centric areas to more affordable suburban locations. Alterations in the Workplace: Business CEOs worldwide are already looking to minimize costs, and real estate does become the first target with health-hygiene and social distancing norms. Foreign Investment on the Boom: Foreign investment continues to be buoyant on the rent-yielding asset segment, and even the lockdown didn’t stop foreign investors from investing in quality assets.
These are some trends that the year 2021 is going to witness.