The Growth Of Real Estate Sector During Covid-19

The Growth Of Real Estate Sector During Covid-19

COVID-19 has become a global pandemic and people are always in the grip of fear and panic since the outbreak continues even when the government is taking all precautionary measures.

Business organisations that were growing rapidly are seeing major set-back due to the virus spread. This being the case, real estate business is the only industry which is still surviving and witnessing maximum growth in spite of recession hitting black and blue. Even though other sectors are seeing losses and setbacks, the real estate is recouping from minor setbacks and emerging steadily which is a good sign for investors.

Best Time to Invest in Prime Properties

The value of brand-new properties that were constructed and completed recently by reputed builders are priced reasonably.People who are planning to buy two-bedroom apartments within the heart of the cities should take the decision to buy them immediately without hesitation since the floor prices will increase within the next few months. Stop paying heavy rents to the landlords who increase the rents every year and decide to buy a lavishly spaced luxury two or three or multi-rooms apartments that are constructed within the prime locations.

It is interesting to note that even the local governments are relaxing the taxes and helping the builders in many ways. Though few groups living in urban cities have showcased reluctance in buying prime properties due to COVID-19, major groups have expressed their desires to buy expensive apartments and other types of brand-new properties within a short time.

Investors Can Expect 35% Jump in Property Values

During the initial period of COVID-19 pandemic, there were fears looming in the minds of home buyers and property sellers about the future of real estate business. But the fears have subsided drastically after the government supported the real estate business in a major way. It is predicted that the prices of real estate properties will see 35% jump within a short time. There is consistent demand for budget friendly homes and people are still buying affordably priced properties that come with tons of facilities and amenities. If you are planning to buy a three-bedroom apartment within your location, then this is the good time to buy from reputed channels.

Do Thorough Research before Buying Furnished Apartment

Even though the COVID-19 spread is only a temporary phenomenon which will last only for the next few months, as a prudent investor you should do research and survey before investing your hard-earned money. You should inspect the property under construction if you are planning to buy on-going projects or ask for free site visits if you are planning to invest in future projects. As a knowledgeable and well-informed buyer, you should interact directly with the builder and extract valuable details about the project size, cost prices, deals and discounts.

You should start negotiating only after you get a convincing reply from the seller. Since it is a COVID-19 period , there will be a delay in supply of materials needed for building a residential project. Once you get convincing and reliable information then negotiate a deal and pay the amount.

Apply for Home Loan and Enjoy Easy Installments

Home loan lenders like banks, financiers and money lenders are offering best interest rates to the buyers during this pandemic period and you can enjoy reduced interest rates on home loans offered by them. The loan processors will process the loan application quickly and transfer the loan amount to applicants’ bank account quickly.

You can even negotiate with banks and reduce the interest rates if you are planning to take them from private bankers. Stop thinking and get ready to borrow home loans from reputed banks at best interest rates. You can also use the aggregator website and compare the floor prices with various builders before taking the next course of action.

You can find builders who are selling newly constructed flats at lowest prices when you do proper online research and comparison.

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