Real Estate Sector Festive Season Expectations
Arjun Aggarwal, Managing Director, Bhartiya Urban
Festive season is always considered auspicious for making any important investment decisions as the buyers often associate it with security and prosperity. Keeping this belief in mind, we foresee a promising festive season that will provide the required impetus to the sector. The pent-up demands of the customers due to the stringent lockdown norms are expected to witness a revival during this festive season as the homebuyers will prefer going ahead with their purchase decisions as planned earlier. This will also be backed by exciting offers introduced during this period.
Moreover, with massive changes in work dynamics and conditions, there will also be an emergence of new trends that are likely to shape the future of the real estate industry. We are expecting a decisive leaning towards home ownership; especially amongst the millennials. This shift will primarily be based on the need for safety and hygiene. The home loan interest rates are also experiencing the all-time decrease currently, a reason enough to encourage the customers to buy a home. With the Government offering several incentives, it is likely to turn into another motivating factor towards home buying. Therefore, the buyers who always intended to own a home will find this festive season a perfect time to buy their dream home.
Observing these trends, we feel that despite the hardships imposed by Covid-19, this festive season will prove to be a game-changer for the real estate sector with an increased demand, advent of new trends and significant increase in the sales.