For real estate trends in 2022, key aspects include the growth of the sector, demand for more space and outdoor facilities and integration of technology.
While the real estate sector was impacted by the pandemic, it has since rebounded and here are some of the trends one can expect in 2022.
Getting Back on Track
While lockdowns temporarily halted construction, the subsequent easing of restrictions kick-started the real estate sector. For example, property developers in Sri Lanka including the likes of John Keells Properties have continued luxury mixed-used development and residential apartment projects. 2022 is bound to see even more growth alongside rising property values and rental rates, a boon for investors.
Space & Outdoor Facilities
With working from home, a growing trend, buyers are expected to look for apartments or houses that can offer space for work, relaxation and exercise. This includes outdoor zones and facilities at apartments that offer features like a rooftop recreational area, swimming pool, gym, jogging track and space for yoga.
Technology a Key Aspect
The reliance on technology was heightened during the pandemic and this will a key component in the real estate sector too; for example, potential homeowners will look for apartments that not only offer high-speed Wi-Fi access, but also smart technology that offers more convenience with a touch of a button or through voice commands.
Millennials Enter the Market
It is also predicted that more millennials will enter the real estate market in search of buying their first homes. While this was the case in 2021 it is expected to increase in 2022; a draw for them would be centrally located and reasonably priced apartments that provide easy access to the city be it for work or leisure.