Top 3 Trends of 2023 Every Top Real Estate Company in Kolkata Should Know

The post-pandemic 2022 has proved to be a successful year for the real estate market of Kolkata. As per The Times of India reports, the city witnessed robust growth in the sale of residential flats and an increase in the new flats by around 17%. Top builders in Kolkata are also anticipating the same growth trend in the coming days. 

However, along with the growth in the housing market of Kolkata, a considerable number of positive and negative changes have been taking place. All the top real estate companies in Kolkata must keep track of the same to make successful sales.

The Trend of 2023 that you Need to Look out for

The Real Estate Market Going Digital

Digital marketing has become a major way of promotion for almost all businesses. Real estate is just a little behind. Over the past few years, individuals have relied more on digital platforms for advertising, booking and checking reviews of Kolkata's top real estate companies. Virtual home tours are the new need of the hour. Hence, top builders in Kolkata must focus on improving their digital presence.

Rise in Prices of Housing Projects

As the demand for the residential projects is increasing, the price of the projects will also increase. Gone are the days when buyers had price-deciding power. Now, it’s time for the sellers to fix the price. Interestingly, some millennial buyers are willing to pay more for locations like Rajarhat, Salt Lake and Sector 5 as these are accessible.

Lowering the Demand for the Rental Market

Having one's own home is now the need of the hour. Hence, real estate companies will see a downfall in the demand for rental properties in 2023 and beyond. An increase in the affordability level has helped people make this decision. With rental property demand going down, there is an increase in the number of young and first-time buyers in the real estate market of Kolkata.