In 2024, the residential real estate sector in India is set for a significant revival, resembling the market conditions seen before the pandemic in 2019. Experts predict a return to normal inventory levels and an increase in purchases by first-time home buyers.
The pandemic has shifted people's priorities, placing a stronger emphasis on comfort, safety, and overall well-being. As a result, there's a growing demand for smart homes. These homes feature automated systems for lighting, security, and other amenities driven by artificial intelligence (AI). This trend reflects the changing preferences of modern homeowners.
One of the major trends expected in 2024 is the rise of smart homes. The integration of technology into homes is no longer just a luxury but an expectation. This fusion, known as PropTech, is driving innovation. Technologies like virtual and augmented reality are transforming how potential buyers explore properties, allowing them to take virtual tours remotely. AI is also playing a crucial role in analyzing data, improving market predictions, and accurately valuing properties.
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