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Previous story:
Trends End storyOutlook for 2022 for Real Estate
Published on January 7, 2022
- Focus on Customer Experience (CX): Earlier, the focus was on customer service which is very reactive and focuses on assistance that a company provides to its customers when asked. Now, however, the shift has been towards customer experience which takes into account every single touch point in the entire interaction of the customer with the company which today includes both online and offline touch points. Moreover, Customer Experience Management (CEM) follows CRM, attracting and retaining customers by providing a great experience.
- Secondary market revitalization: Urbanization and increased standards of living are now reaching secondary markets and beyond. Thus, it provides ample opportunities for developers to take them up, providing redevelopment support and new assets.
- Rise of Community Living: We at Karle Infra Pvt. Ltd. have started seeing a trend in the younger generation, especially in Bengaluru, to move into a community that has good amenities. This ongoing quarter has seen considerable growth in sales – 3 times as much as compared to last year. Moreover, customers during this season are confident, displaying genuine interest in buying/investing in the property, resulting in stronger numbers for genuine inquiries. The overall site visits have also doubled since last year. This surge in numbers is not limited just to our domestic market, as there’s been a 2x rise in sales for the same project in the NRI market compared to the last festive season. These numbers are a clear indication of what the future holds for gated communities. This will be an ongoing trend in 2022 as well
- Conversational AI: Ensuring a better CEM, these allow 24*7 contact channels with quick response times and minimal error rates. According to Deloitte, “these assistants would be built for purpose, have a rich set of capabilities, and be integrated into the end-to-end process landscape of the enterprise.”
- Big Data and Machine Learning: With the immense amount of data and information available, real estate applications can now predict changes in property rates with a great deal of accuracy. According to research by Mckinsey, machine-learning models can predict changes in rent rate with 90% accuracy
