The fast improving business confidence index and projections of double-digit salary hikes in 2022, on the back of economic rebound , hold great promise for the speedy growth of the real estate sector..
The budget and the monetary policy announcement of February 10 have set the tone for a durable and broad-based revival of the economy which is poised to grow at a quickest pace.And with the economy gaining traction amidst receding pandemic, the consumer and business confidence has seen a substantial uptick.This is also evident from the Google Mobility Index for Workplaces that has reached pre-pandemic levels and Apple Mobility Index has also moved up across all major cities. The formal job creation has seen a rise of over 16% in December 2021 and the year 2022 is set to be the year of double digit salary hikes. According to Aon (global professional services firm) survey, e-commerce , IT and professional services will see the highest increment levels of double-digit percentage.Aon projects highest salary hikes in India among the BRICS nations
These promising trends on the economic and job front will further fuel the post-covid growing trend of home ownership and investing in high rent-yielding commercial property. This will in turn brighten long -term growth prospects of the real estate sectors.