Builders expecting real estate prices go up by 30%, surveyed CREDAI
The Confederation of Real Estate Developers Associations of India (CREDAI) has recently conducted the ‘Real Estate Developers Sentiment Survey 2022’ during the period between December 30 to January 11, 2022. As many as 1,322 developer members have participated in the survey. As one of the main outcomes, the survey is suggesting that real estate pricing is expected to rise up to 30% in the current year owing to the increased cost of building materials.
CREDAI, established in 1999, is the apex body of private Real Estate developers in India. It represents 13000+ Developers across 221 city chapters in 21 states.
The survey also shows that most of the developers are focusing on digital transformation which is proving beneficial for their sales. Around 39% of the developers, as reported in the survey, are doing 25% of their sales online which is only expected to rise this year.
OTHER IMPORTANT FINDINGS ON REAL ESTATE IN THE SURVEY
Nearly 35% of the respondents expect real estate prices to go up by 10-20 per cent, while 25% of the builders see up to 10% rise in rates.
21% of respondents expect property prices to go up in the range of 20% to 30%.
92% of the respondents are planning new launches in 2022.
74% of developers surveyed want “Ease of Doing Business”
55% of developers are looking to adopt virtual reality in their business in 2022.
65% of the developers are willing to explore new business models in 2022 like co-working, co-living.
Around 96% of the developers have reported that they prefer to launch residential real estate in 2022.