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.
All the above components plainly show that the positive attitude of the customer is returning to the current real estate sector. With new advances used by this sector, which simplifies the overall process of searching and buying properties, investment in the sector becomes easier and more convenient.
Besides, the presentation of various government relaxations in the wake of COVID-19 makes property purchasing more rewarding in the current situation. Even if you are not interested in purchasing a home for living, you can buy it from an investment perspective.
Over the years, real estate has proved resilient to major upheavals in society. The returns have remained more or less steady for homeowners. The time has never been so favourable for those needing to buy their first home or even a second home besides.
Talenmark, one of the best builders in Calicut and Kerala offers the best investment opportunities in real estate!
Talenmark’s Chilgrove Resort villas are attentively planned and built without disrupting the picturesque excellence and without compromising the modern requirements. Situated at Wayanad amid the wondrous Western Ghats and close to the Pookode Lake, Chilgrove Resort Villas charm and draw any individual towards the excellence of this spot. This scenic beauty is only an hour’s drive from the city of Calicut. Chilgove Resort Villas are a supreme option for your new investment this new year.
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