India has completely been shaken by the second wave of the Covid 19 pandemic. While according to the researchers and medical professionals, we are gradually approaching the third wave, market trends indicate that this is the best time to invest in your properties. Before going behind the reason, let’s have a look at the data points that validate our claim!
A well-known real estate business platform conducted a survey in India during 2020’s end aiming to predict the trends of real estate business. The survey was conducted in Kolkata, Delhi-NCR, Mumbai, Bangalore, Chennai and Hyderabad, which clearly shows some jaw-dropping facts like:
- Although Indian economy is seeing a sharp decline during this time, 82% of participants to this survey claimed that they are ready to afford a home of their own.
- While last year 49% of the millennials (age group of 25-40) showed an inclination towards property buying, this year it has jumped to 63%!
- And, if you think this is enough, wait for this – approximately 19% of the respondents claim that they are interested to invest 80 lakhs – 1 crore in property while 13% are interested to buy in a range of 60 – 80 lakhs.
Real estate developers around India are truly leveraging this trend and marketing their properties in full swing. So in spite of a massive cut down of workforce in different sectors, declining GDP and economy, this trend implies some points:
- The work from home culture is making people confined to their home towns and places which is a big reason behind this boom in real estate industry
- Although manufacturing & production industries are facing serious debts and losses, the digital industry is growing exponentially and as a result corporate professionals & people from white collar jobs are really becoming the highest paid workforce across the globe. So a certain percentage of people have abundance of capital to invest in real estate properties
- According to the market survey and experts, after this pandemic, the real estate industry will have a booming growth like never before. The survey very well reflects the initial indications of this growth.
So if you are really looking to invest in real estate properties or to buy your dream home, trust the survey and trends – this is the best time for you. Real estate is going to be the real game-changer in the next few years in India.
