30 , September , 2022
The Indian real estate sector is seeing a healthy increase in demand in 2022 and this momentum is likely to continue for the rest of the year. The real estate sector will have positive general market prospects, from commercial real estate to the housing market. The festival season is the right and favorable time to invest in real estate. Let's look at the top trends that will help revitalize real estate this coming festival season.
1. The focus on integrated living is catching up in the housing industry
The concept of integrated living is quickly catching up in the housing sector as homebuyers have favored projects with modern conveniences. The trend is gathering momentum as home buyers increasingly seek a more peaceful, self-sufficient, and secure life. The township will attend to residents' social, civic, and recreational needs and is equipped with multi-layered security systems. Demand for township housing is increasingly positive and will definitely continue this year.
2. Real estate as a long-term investment vehicle
This year we will see a boom and multiplication of real estate investments. Housing as a long-term investment instrument has developed more than ever. Last year, we saw an increase in second home purchases. Now people have seen the benefits of investing in the real estate market and consider it a safe and secure investment option.
3. Evolving real estate hotspots
This year we will see real estate developers making notable investments in suburban areas. The establishment of IT special economic zones nearby and well-known educational institutions have led to the settlement of migrants from outside the city. The suburbs are well connected to the rest of the city and have become an alternative for homeowners due to improved commuter connectivity. The availability of housing at affordable prices is easily accessible to all major facilities, making micro markets a desirable location for real estate.
4. Offers and new projects
Many developers will launch their projects during the Christmas period. Therefore, buying a home during this time presents a multitude of options to choose from. In order to meet annual sales goals and gain a competitive edge, developers offer many programmes during the festive season. These include no-EMIs until ownership, freebies, and other subsidy programmes as per the homebuyer's payment. The industry also offers discounts during the holiday season to motivate property buyers. The increasing sales and high proceeds enable property developers and dealers to make attractive offers. With the festive season fast approaching, buyers have started looking for properties.
The price and demand for real estate are expected to rise
There are many constructions across India, and there are a variety of options. It is estimated that the Indian real estate market will see a capital appreciation of 5%. Selling momentum will increase sharply this year, but prospective homebuyers will not change their selection patterns. Homebuyers will look for homes that offer them a good return on investment and better amenities and facilities. The real estate sector came to a grinding halt during the first wave of the pandemic. The industry picked up speed when the second wave hit in the final quarter of 2020. Even after these challenges, the real estate industry continued to grow steadily in 2021. The festive season and the vaccination campaign have helped the real estate industry to pick up the pace. As the housing sector gained momentum in 2021-22, there will also be growth in 2022-23. End-user demand for real estate will increase in 2022-23 and house price inflation is expected to increase by 8% in 2022-23
Why invest in real estate during festive times?
The festive season is the best time to buy a home. Potential homebuyers who have long been searching for housing options and better deals could therefore take the plunge despite a plethora of discounts and offers from property developers. Below are a few reasons to invest in property during the festival season.
1. Offers availability for a limited period
Even though the deals and discounts are very alluring, it's crucial to keep in mind that they only last for a limited time. It's best to grab the opportunity as soon as you spot it, without waiting for anything else and delaying it.
2. Attractive home loan offers
The property buyers can also avail of attractive home loan offers apart from the discounted property prices. From discounted interest rates to many freebies to exciting freebies when signing a loan, private and nationalized banks, and lending companies have much more to offer this time of year.
3. Launching of new projects
It's the time of year when developers launch new projects that meet people's high expectations. Developers start their projects considering the feelings and emotions of buyers and Indians who believe in culture and traditions. Therefore, investing at this point will offer buyers a selection of newly launched projects to choose from.
The real estate sector is thriving with an increasing demand for real estate. The economic uncertainties and restrictions had forced many prospective buyers to postpone their real estate purchase decision. But the festive season seems like a favorable time to buy a dream home. It will also result in a win-win situation for developers, buyers, and financiers.
