Page 17 - CIJ JAN 2024 - Digital Edition

Cover Story

Housing
Markets 2024

In the last year, headlines were
dominated by surging inflation
and consequential interest rate
hikes. Despite these challenges,
global economies have displayed
surprising resilience, with recent
inflation figures suggesting a
turning point. What drives this
positive shift in outlook? Some
prime buyers appear confident
that the worst is now behind us.
become more integrated, intuitive, Smart Office Solutions: These Globally, on the demand side, with
and essential in 2024, in supporting optimize operations with automated inflation receding and interest rate
a seamless hybrid working systems, intelligent office solutions hikes entering their final chapter,
experience. and seamlessly integrated IoT buyer appetite has strengthened
devices thus streamlining processes, in some markets. Meanwhile, on
Sustainable Office reducing errors, and enhancing the supply side, high construction
Design the overall work environment. costs, labour issues and planning
delays are collectively contributing
From smart lighting to intelligent
Sustainability is becoming scheduling tools and collaboration to a shortage of new stock entering
a key consideration in office platforms, these technologies are the market
design. Eco-friendly materials revolutionising the way we work,
and energy-efficient systems are making offices more efficient, Housing forecast
being increasingly utilised in office productive and engaging.
constructions, reflecting a growing for India
consciousness about environmental Serviced Office Spaces: These The affordability for home
impact. As corporates eye their office spaces provide businesses purchases is expected to improve
upcoming 2030 sustainability with the agility to adapt to changing for the better in 2024, basis the
targets and re-assess their post- market conditions, optimise their expectation of a 60-80 bps repo
Covid workplace strategy, focus workspace utilisation, and reduce rate cut during the year, says JLL’s
is sharpening on low carbon overhead costs. They also cater report on the Home Purchase
buildings. Space that is electrified to the preferences of employees Affordability Index (HPAI). This
and powered by clean energy is in who may prefer a hybrid work will keep buyers’ affordability
growing demand, not only because arrangement, combining in-office within a very comfortable range
it is resilient to changing regulation collaboration with remote work and sustain the momentum in the
but also meets near-term corporate flexibility. market in 2025 as well.
sustainability targets.

Office Space Trends
for 2024

Agile Workspaces: Breaking
free from traditional layouts, these
flexible and adaptable spaces
encourage collaboration, boost
productivity, enhance well-being
and potentially reduce costs. They
also incorporate biophilic design
elements such as natural light,
plants, and outdoor access to foster
a connected, productive and well-
being-focused workforce.

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