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As we move ahead in 2024, the real estate domain in India is soon going to be a hub for many opportunities for youngsters. This seems evident due to the rapid growth of the sector with a 18.7% CAGR. Way ahead, professionals can advance in their careers as the sector promises long-term growth. Presently, the flourishing sector, along with advanced technologies, will play a great role in the economic development of our nation. So, let’s go through how the sector will be an employment hub years ahead.
Often known as the ‘mother industry’, the real estate sector will be a backbone for the economic development in India. Apart from generating diverse job opportunities after the agricultural sector, its influence will extend to several ancillary sectors. With more than Rs. 40,000 crores of investment in PropTech organizations, the domain will continue to expand with time ticking away. Besides, it will offer myriad job opportunities in the realm of finance, technology, and data science. These were the statements uttered by the President-Elect of NAREDCO during a seminar held recently. Now, let’s check out how technology will create job opportunities.
As technologies keep emerging, they are actually transforming the ways in which properties are bought and sold. Here are some trends that are driving the real estate sector.
Predictive Analytics & Big Data
The role of analysts and data scientists will truly be vital as they work with real estate companies. With the help of big data, such professionals can predict market trends as well as the value of properties. They can also gain insights pertaining to the buyer’s behavior. This will help to make wise decisions due to data availability.
Virtual Reality (VR) & 3D Modeling
Technologies like VR will certainly help homebuyers get an idea about the property’s layout. Hence, when the buyer is about to purchase the property, he can be quick in his decisions. On the other side, presenting a 3D model of the entire property will become prevalent. Here’s when companies can leverage the expertise of professionals who possess the skills in creating a virtual experience.
Artificial Intelligence (AI)
With time, organizations will also be on the brink of recruiting AI developers. As the skilled professionals develop AI-powered tools, it can help streamline property management. By using the tools, professionals can also predict the need for property maintenance and make the management process more efficient.
As people observe growth in the real estate sector, many opportunities will arise in the finance sector.
Private Equity & Investment Banking
These realms will offer many opportunities for individuals who are interested in raising capital. Opportunities can also be sought in acquiring equity in firms that are progressing steadily. Moreover, individuals can also think about a stable income stream by investing in real estate portfolios.
Corporate Finance
With time, real estate firms and developers may find it tedious to manage cash flow. So, the developers will entrust this responsibility to corporate finance professionals. They can also rely on such professionals to secure funds for diverse projects. Professionals with financial acumen will also play a role in enabling organizations to maintain financial stability.
As India moves ahead with urbanization, there will be a need for developing sustainable infrastructure. Thus, engineers and architects will be way ahead in creating a modern nation. Having said that, Civil engineers will ensure that the buildings are built according to certain standards. Architects will also specialize in laying out the plan for buildings with a focus on sustainability. They will continually have to strive to reduce the environmental impact on the nation’s development.
Apart from everything else, many opportunities will galore for women in India. While these can lend assistance to female investors, they can also lead a team of professionals. As they embark on their career, they can also lead inexperienced buyers through the real estate market.
Finally, the future seems bright due to the current sentiment index score. This is a score that conveys more about how stakeholders perceive the current state of the domain. As the score has been moderated to 65 for the first quarter of 2024, people have been optimistic regarding the sector’s growth. Moreover, you can observe a conservative outlook with ‘The Future Sentiment Index’ as 65 in the second quarter of 2024.
Get in touch with Goodbrick Realty to know more about luxurious houses if you wish to own one in your lifetime.
