This Covid pandemic has been very difficult for most all businesses and Real Estate has been no exception. Having said that Real Estate builders that are able to keep pace are really benefitting from the uptick of enquiries in the market. There are several reasons why this particular sector is flourishing currently. We list a few below
- With volatile stock market and underperforming mutual fund market, investors are looking to a stable asset class and nothings more stable than Real Estate class. Residential real estate market is at its best now, with lower interest rates and a buyer’s market. As per an ANAROCK report, ready-to-move in homes are currently dominating buyer preference, and homes priced between Rs 40 lakh and Rs 1.25 crore are in the highest demand
- Reserve Bank of India (RBI) has reduced the repo rate on multiple occasions in the recent past, resulting in home loan interest rates plummeting to sub-7% levels. Now, from that perspective, aspiring homebuyers should not try to let go off these record-low rates if they have the necessary margin money.
- The scenario is currently more favorable for buyers with higher LTVs, lower valuation and cheaper credit availability. The need and urge to own property is at an all-time high post the spread of Covid-19.
- Another good reason to buy one’s dream home in current times is the availability of housing units at reasonable prices.
- The kinds of offers and realty deals which homebuyers are getting now are usually seen only during a brief festive period. Shop around and find the best deals possible for your budget. There are lot of offers in the market currently
We at RR Housing are seeing this trend happening right now. There is an uptick in the number of enquiries we have been receiving and many of the organic visits have turned into sales. Affordable housing units are the quickest to move and have been a huge stable asset for many.
Dont Wait! Call us now and let us help you find your dream house today!