Good morning, each one of us faces a variety of health risks as we go about our daily lives.
Driving in cars, flying in aeroplanes, engaging in sports, and being exposed to environmental pollutants all pose varying degrees of risk.
🔖 While some risks are simply unavoidable, others we choose to accept because to do otherwise would restrict our ability to lead our lives the way we want. And then there are risks we can easily avoid if we had the opportunity to make informed choices.
Indoor air pollution is one risk that you can do something about and guess what, real estate occupiers are getting pretty serious about Indoor Air Quality (IAQ).
More on that as you read on.
– Rahul Mishra, Anuvab Chattopadhyay
Pune Shows Indian Realty How To Be A Finisher
Reports throw light on a heartening piece of news from the Pune real estate market.
What: In 9 months, the city has seen 3,850 delayed or stuck housing units being completed. Examine it against the backdrop of 4.80 lakh delayed/stuck units worth INR 4.48 lakh crore (country-wide) and you’ll understand with delay.
With Pune coming out of the woods, its current stuck tally stands at 44,250 units.
Btw, many of these homes were stuck even before the MahaRERA was born in 2016.
Positives worth mentioning
➕ Developers are walking the extra mile for completing projects, meeting rising demand for ready-to-move units.
➕ 36,830 homes being completed in India’s top-7 cities in the first five months of 2022.
➕ Consistent housing demand despite higher input costs and increasing home loan rates.
The ideal future
🎯 Completion of stuck projects throughout the country on a mega scale, especially in the NCR, which is the biggest laggard in this category.
🎯 More reputed developers taking over stuck or stressed projects and completing them, backed by the SWAMIH Fund and NBCC.
Israel Steps On The Gas To Speed Up Construction
The Israeli Government is accelerating new construction starts while backing it up with an extended discount scheme.
The key mission? Restricting soaring home prices in a scenario where demand comfortably surpasses supply.
What’s in the works?
1️⃣ A joint plan crafted by the interior, finance, and the construction and housing ministries.
2️⃣ 280,000 units are targeted by 2025 (70,000 units annually) to streamline supply and meet demand.
3️⃣ 20 billion shekels (USD5.89 billion) in losses for the housing authority due to the new incentives.
4️⃣ Stabilizing the Israel housing market on priority.
5️⃣ More rental housing units.
6️⃣ Zero red-tape.
Watch-Outs
📎 Sluggish home construction timelines.
📎 Home price growth of 16% over the last year.
📎 Record-low mortgage rates.
📎 Unaffordable rentals.
Fyi, four-room apartments in Israel are selling for 2.5 million shekels (~ INR 5.6 crore).
😳 Too costly for sanity’s sake.
Tuesday Treat
Got High IAQ? Alright, Lease Signed.
It’s not just the world or your neighbour; real estate is also going green in multifarious ways.
Breathe Easy: The latest parameter for the industry is indoor air quality (IAQ) and developers are already revamping their business plans as you read this.
Surprisingly, awareness has increased considerably about the connection between wellness and IAQ, and the need for greener living and working spaces.
The UAE’s National Air Quality Strategy (2021-31) is the beginning of many such radical developments to come worldwide, exploring technologies for superior IAQ, lower emissions and pollutants.
What’s shining the spotlight on IAQ?
Fyi, ensuring higher IAQ goes far beyond conventional green building blueprints.
It necessitates air quality best practices, smarter technologies, home tracking and automation systems such as IoT sensors and software to monitor IAQ periodically.
Some of the biggest drivers of this new paradigm:
1️⃣ With most people spending time indoors at home or work, there is widespread awareness and demand for better health standards. Buyers are increasingly seeking developers offering environment-friendly and sustainable solutions.
2️⃣ Occupiers need assurance, especially after COVID-19, that they are breathing healthy air indoors - free from pollutants, pathogens, etc.
3️⃣ Real estate is already striving to reduce carbon emissions with technologies and sustainable measures. Developers are more inclined towards ensuring better living standards for customers and IAQ is a part of this shift.
What lies ahead?
💰 More investments in enhancing IAQ and smarter technologies.
📈 Higher long-term returns on investments in sustainable properties, along with better occupant health standards.
---------------
Now that we have managed to broach the never-before-touched cask of Indoor Air Quality, we promise to put some tree hugging IAQ blurbs from time-to-time to keep you breathing effortlessly.
Have a great day ahead. See you tomorrow. 💚
☕ The Crew@Ginger Chai