Why this New year is the best time to invest in Real Estate?

The real estate market has seen numerous highs and lows over the years and the pandemic was one of the most impactful events. Even though Covid-19 had a negative impact, it also provided an opportunity for this sector to evolve and embrace the new trends by changing their work strategies to serve their customers better than before. Investing in real estate is considered to be an ideal option because of the higher returns in the long run. 

Most customers were uncertain of finalising deals as they waited for the right time during the pandemic and have delayed it further due to the same. But this pandemic has also established the importance of owning a home and why it is the best time to invest in real estate now. 

The Covid effect 

Majority in urban places preferred staying in rentals before Covid-19 and there is a change in this behaviour. These people are slowly leaning towards the idea of owning a home. The uncertainty of the financial situation has been a learning experience for the younger generation. This new realisation of the younger generation is going to have an effect on the real estate sector as this will lead to an increase in demand for properties.  

Relaxations from Government and Developers 

Today, builders and developers are offering numerous deals to the buyers. Some of them include cashback schemes, more agreeable EMIs on loans, refundable booking amounts, appealing price propositions and more.  

The government is also providing various relaxations to encourage real estate deals. The stamp duty charges have been reduced. Home prices, loan interest rates and government taxes of the property are today at their lowest ever levels. 

The Right Time 

The demand for rentals may have decreased, but it is going to pick up soon. With the introduction of the vaccine and the total opening up of the business sectors in 2021, the labour force will be back in urban communities and tourist locations will open spurring demand for rentals.  

The rapid adoption of Work-From-Home by many companies has now made remote working a possibility, eliminating the need to stay in residence close to the office. Buyers are now actively looking at housing options which are affordable and comfortable, keeping in mind that an allocated space to work is necessary for the long run. This can lead to an increase in demand for properties in places outside the city too.  

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Builders in Calicut

Location: Kozhikode, Kerala, India

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