The real estate industry's market entails of the sales of real estate services by different entities (organizations, sole traders and partnerships) that rent, lease and enable the usage of buildings and/or land. The industry also comprises managing real estate for several others, selling, renting and purchasing the real estate for others and appraising real estate.
According to the report analysis, ‘Real Estate Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that CBRE Group; Jones Lang LaSalle Inc; New World Development Company Limited; Colliers International; Newmark Grubb Knight Frank and many others are the key companies which presently operating in real estate global market for leading the highest market growth and registering the great value of market share around the globe during the near future while delivering the better consumer satisfaction, decreasing the associated prices, employing the young work force, establishing the several research and development programs, spreading the awareness connected to the applications of such, analysing the strategies and policies of the government as well as corporates, implementing the strategies of enlargement and profit making, and developing the qualitative and quantitative measures.
Whereas, the great urbanization growth rate, increasing salaries, augmenting the IT and Pharma sector and increment in working women populace, resulted in high growth of real estate sector. Whereas, Delhi and Mumbai are the principal centers of real estate market in the India followed by Bangalore and Pune. Although, Mumbai real estate market is mellowed and saturated owing to which it began falling now. Mumbai city have more residential amenities available as equalled to population of that city. Great prices of apartments is restricting the opportunity for buyers looking for residence.
Moreover, the Blockchain is emerging as a technology to eradicate hidden costs and disorganizations in the housing market. The Blockchain is a record-keeping technology operating as the encrypted account of digital data. It can scramble a property with a unique identifier, and is thus able of recording the measure of asset from one owner to the next. The Real estate is a document-intensive business, and a disseminated blockchain ledger can combine mortgage, escrow and deed transfer record-keeping, and can also enable the automated accommodation of contingent events in the terms of contracts. This supports in expediting real estate transactions, decreasing fraud and suggesting the total transparency. During July 2016, Sweden became the first western region to explore the usage of blockchain for real estate. The Republic of Georgia, Honduras and Brazil have also broadcasted pilot programs for blockchain in real estate.
Whereas, the organized companies in real estate market are effectively implementing the strategies of joint ventures, mergers and acquisition, new product development, partnership, amalgamation and several others for generating the high percentage of revenue and obtaining the high competitive edge. Therefore in the near years it is anticipated that the market of real estate will increase around the globe more effectively over the coming years along the effective amount of investment by the forthcoming as well as coming investors.
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Ankur Gupta, Head Marketing & Communications