Real Estate Market Trends in 2023-What Can You See

Mar 29, 2023

The Indian real estate market has been through a lot of ups and downs in the past few years, especially during the pandemic. However, things seem to be looking up in 2023, with several positive developments and trends—thanks to 2022, which marked the recovery of the industry by setting a new sales record of 68% YoY.  

This blog sheds light on the future of real estate in India in 2023. 

Affordable housing will continue to be a priority 

The demand for affordable housing has been on the rise in India, and this trend is expected to continue in 2023. The government's emphasis on affordable housing schemes such as Pradhan Mantri Awas Yojana (PMAY) and initiatives like the Affordable Rental Housing Complexes (ARHCs) scheme will further boost the demand for affordable homes. This will also lead to an increase in the supply of affordable housing, with developers looking to tap into this growing segment. 

Smart and luxury homes will become the norm 

As technology evolves, the concept of smart homes and luxury living will gain more traction in India. From high-end, feature-packed apartments to voice-controlled devices to security systems that can be accessed remotely, these housing options will offer a range of benefits to residents. Developers are also increasingly incorporating luxury lifestyle and smart home features into their projects to meet the growing demand. 

One of the living examples of smart and luxurious living is Purvanchal Royal City Phase II. Offering everything families need to lead a luxurious and convenient life, it is known for its features and high-end amenities that are hard to find elsewhere. 

Co-living spaces will see a surge in popularity 

With more millennials and Gen Zers opting for flexible living arrangements, co-living spaces will see a surge in popularity in 2023. Co-living spaces offer residents the convenience of fully furnished homes and shared amenities, making them an attractive option for those who value flexibility and community living. Developers will look to tap into this growing trend by launching co-living projects across major cities. 

Green Locations will become a key selling point 

With climate change becoming an increasingly pressing issue, homes located in green expanses and having greener landscapes will become a key selling point in 2023. Developers will increasingly look for peaceful and greener locations for their projects and emphasize preserving the environment so as not to disturb the natural elements. 

Again, Purvanchal Royal City Phase II is one of the few communities in Delhi NCR that is surrounded by greenery and majestic views of remote Greater Noida. This offers a peaceful and serene setting to families looking to lead a quiet and satisfying life.  

Real estate investment will see a surge

As more and more people become aware of the returns that real estate can bring, they are looking for investment opportunities at every nook and corner. In 2023, the number of investors is expected to increase, and this trend will continue to be the highlight of 2023 and years beyond. 

Where to invest in Greater Noida?

If you are looking for real estate investment opportunities, Purvanchal Royal City Phase II is an excellent choice. For more info about the project, check out the website here.