With social distancing and quarantine continuing to be the need of the hour, people continue to spend time safely at home. Because of this, the thought of owning a quality home and a comfortable living space has become important for most of them.
Affordable housing also remains a priority among millennials, and real estate companies are making active efforts to reach out to them. All this has led to an increase in real estate investments, despite the existing economic situation. With innovative steps being taken to adapt to these unique circumstances, property investment will continue to be an upward trend. Here’s a look at the current market and factors that continue to shape it:
1. Long term investment options
It is well known that investing for the long term is a more lucrative option. With market volatility, stocks and mutual funds have a higher number of risks that must be considered.
Real estate, on the other hand, is a long-term asset that appreciates with time, generating higher returns over time. Additionally, with work from home and virtual learning being the new normal, having a safe haven to live comfortably has taken a precedent. Home loans also offer very low-interest rates which make property investment an attractive proposition in the current market.
2. Quicker construction in the upcoming months–
Many real-estate projects have now slowly started with construction as the country begins to open up with fewer lockdown measures in place, construction will begin to pick up the pace.
India has some of the most skilled workforce and manpower in terms of construction and development, and this will prove beneficial in the following months. Builders will expedite construction to meet the demand for property and to make up for the time lost. Thus, real estate investors can rest assured that meeting their requirements will take precedence, especially since there is no shortage of projects.
3. Millennials want to own property –
Millennials are driven to building the life they want for themselves, and this includes owning a home. They are looking at real estate investment more opportunities more than ever now, especially since this is the best time to invest in assets.
A house is a solid, long-term dependable investment and the crisis has made millennials more cognizant of the value of buying property. They are looking for a sense of security amongst this phase of uncertainty, which is something a good house can definitely provide. Trends suggest that with the amount of free time and innumerable resources available now, many may take advantage of the current scenario to build their investment portfolios. And with interest rates at their lowest, more millennials are opting to choose properties overstocks, helping to drive the real estate investment market further.
4. Metro cities have seen the highest sales
Mumbai, Chennai, Bengaluru, and Hyderabad continue to be real-estate behemoths. Some reasons may include a higher return on investment in buying a property in these cities, better sales expertise, and standard of living.
This will be a continuing trend since these cities regularly see the influx of a large number of working professionals yearly, as they seek job opportunities with the growing number of companies. Property developers in these cities also leverage digital technology to increase their sales and reach out to people.
5. Rental income as a financial cushion
For those who are not looking for a new residence, job security and stable income are still factors that have come to be considered more. Buying property generates returns as the property appreciates over time, and even as a rental unit, these can serve as great assets.
Investing in the right property in the right location can lead to strategic earnings. Doing so will ensure that there is always a demand for rental housing, and at good rates. Because of this, many are considering property investments to generate regular cash flow, even in times of personal financial insecurity.
With low inflation and interest rates, house hunters should make use of this opportunity to pursue the best real estate investment offers. This is because history has shown us time and again that times like these are followed by growth and uptrend. Strategic investments now will definitely result in rewards in the future.
At Dosti Realty, we offer a wide range of homes across top locations in the Mumbai Metropolitan Region with a focus on comfort, transparency, and affordability. With our support and credibility, make the best real estate investment with us during these challenging times.