Despite the concerns of the previous quarters, the real estate sector recovered smartly, with residential sales leading the others. Fast forward to 2022, the sector’s disturbance is gradually resolving, and the real estate market is prepared to resume its rhythm in the next two to three quarters. If we can maintain this pace, the real estate sector will quickly rebound to match, if not exceed, the levels seen in 2019.
According to recent reports, 2022 may prove to be a more steady year for the industry, both commercial and residential. Technology has shown to be a catalyst for the real estate sector’s recovery, revitalization, and transformation. Real estate players, large and small, have recognized the importance of technology and the type of innovation it can bring to the table in times of uncertainty. Even the government has recognized its significance and implemented several plans to promote technology in the real estate market.
Building resilience through technology should be developers’ goal this year and next. While there is no script or method to help developers deal with uncertainty or disaster, relying on technology can help developers deal with enormous consequences. The residential real estate sector will see expansion, innovation, and investment in the following years.
