Real estate investments are generally made to attain ownership rights on a property or rental income generated from it to secure finances. Renting and re-selling the property purchased is generally considered to be a very profitable prospect. However, since the incoming of this pandemic COVID-19 situation has eclipsed the growth and development and has left the global economy in shambles. Where a lot many sectors of the Indian economy are still witnessing uncertainty accounting for the revelations that the future holds, the Indian Real estate sector is experiencing a boom in sales. Get to unveil why investment in the Indian Real estate sector is the still safest bet.
1. Rise in the count of investors and buyers
The economy during COVID-19 is in shambles and witnessing a drastic decline in GDP due to the loss-ridden businesses all around, crashed stock market etc. Well, a boon for the real estate sector as in this situation of uncertainty reports surface a steep rise in the number of investments in the property sector as the prices are at an all-time low, and thus property investment is now more fancied.
2. Long-Term Investment in Immovable Property Assets
As this is universally believed that long-term investment can be much more lucrative than ever and can fetch you much better returns than short-term ones. These investments may vary from income group or class of individual viz, in commercial properties or residential properties.
3. Be Owners and not Occupant
During the imposed countrywide lockdown in COVID-19 crisis, a lot of individuals have witnessed uncertainty and have faced challenges with their job security, accommodations on rent agreement. This has led individuals to seek for being an owner and not an occupant.
4. Appreciation in Value with Time
The real estate sector is amongst those few which is bound to experience a constant appreciation in value with time. Refurnishing a property and then renting or selling will certainly generate more rentals or the overall proceedings.
5. Bigger Residential Space is in Demand
Given the fact that due to the credit crunch in the market and inability of individuals to spend the property prices are dipped to an all-time low. Thus, paving an opportunity for MIG class individuals to invest in large-sized residential spaces by getting them financed at low-cost EMI’s.
6. Decrease in Home Loan Interest Rate
The apex institute of Banking Industry in the country, RBI in its bi-monthly policy have relaxed the homebuyers further, by cutting down the interest rates on home loans and others. This initiative by RBI on the recommendations of the Central government is proving to be a boon for the Real estate sector as it has initiated an inflow of fresh investments into the various segments of Real Estate.