The pace at which the real estate world is changing is unbelievable. The rising demand and the shrinking space have created a different environment in the commercial building industry. People are not just ready to buy a house in Tricity but have much more plans concerning real estate.
For those who want to make investments in immovable assets to mitigate the challenges of inflation, learning more about the latest trends in commercial properties will be a boon. So, take a look at 2022 commercial property trends in India to make sound investment decisions.
A surge in Real Estate Investments
Those new to commercial property investments think that there is only a rise in the independent house for sale in Mohali. It is just a preconceived notion. If you go by the latest property trends, then you will know that commercial real estate investments are improving post-Covid. More and more people are coming out to buy commercial spaces so that they can have better return.
Expected Increase in Labour Cost
During the pandemic, many laborers returned to their villages, but now they have come back. Therefore, the shortage of labor doesn’t seem to be a problem. But, these migrant and non-migrant laborers seem interested in the wage increase. And over time, this will only increase. So, if you delay making the right call now, then you might have to bear the brunt of the time.
A rise in Demand for Offices
All the tech giants are back to work from office culture including Google, TCS, Infosys, and many more. It has created a demand for more offices for both small businesses and startups. By the end of 2022, many real estate experts expect a massive rise in coworking.
More Focus on Safe Buildings
Proper construction means more security in property investment. That is why buyers are not just interested in the safety of apartments in Mohali but commercial establishments. Further, being equally vigilant in buying commercial properties doesn’t mean just making a deal with a reputed real estate agency in Mohali. It is more about ensuring the safety of the building after the purchase.
Growth in Rental Market
More and more people are coming out to invest in commercial real estate property. One of the primary reasons is that it offers you better rent in return. But one of the things that many ignore is that there is a rise in the small and medium businesses in the country especially, in the Tricity region. Many companies are opening days in and out near Chandigarh, Mohali, and Kharar. So, the chances of higher rental income due to a rise in demand are ubiquitous.
For instance, Nirwana Square One is becoming popular among many commercial property investors. It is a property that is lying at the heart of Tricity and offers the best location for businesses.
More One-Stop Shopping Centers
Try and observe around you and then ask a question – Were there so many shopping malls near Chandigarh back in 2015? Indeed, not. Today, you can even find the best shopping center in the Kharar area as people are more interested in buying all products under one roof. Buying groceries, dresses, or even toys is more of a recreation and family activity for Gennext. Further, these places unveil lucrative offers that save a few bucks. This is something that is going to see more growth in 2022.
Spike in Online to Offline Stores
Many online stores also are opening offline stores in malls and shopping centers near Chandigarh, Mohali, and Kharar. For instance, Crafstvilla, this apparel eCommerce store is now available offline in a mall near Sunny Enclave, Kharar. It is just one example. You can find many such stores making way to the near shopping complexes. Strikingly, this will increase the demand for warehouse spaces as well. It is expected to see a boom not only this year but in the coming year too.
Real Estate Leasing Activity Will Increase
The momentum gained in leasing activity is not unpredictable. In fact, it was expected to be a trend in 2022 and has turned out to be true. Better exposure and low leasing cost has been instrumental in attracting potential small and medium corporate companies to Mohali, Zirakpur, and Kharar, apart from Chandigarh and Panchkula.
Conclusion
Navigating through commercial real estate trends in 2022, one thing that stands out is the increase in its demand. The reasons could be many, but the fact is intact that investors will be more interested in commercial properties in Tricity rather than a villa in Kharar. Of course, it will also depend on the priority of the buyer. Making investments in commercial spaces like Nirwana Square One seems quite prudent for now.