The upsurge is homes being bought
The Indian real estate market has seen a rise in people trying to buy homes rather than rent them. This could very well go into the next year. This could be attributed to a few things we have carried forward from the pandemic. Since work from home has become more of a norm than a mechanism to cope with the pandemic, the young working-class has taken to buying homes in the far outskirts, away from the hassles and pollution of the busy life at the city centers. This is most likely to get carried into the next year. Investing in the construction of properties on the outskirts of cities may be a good option. The best builders in Kerala have been seen investing in developing the outskirts of cities to harvest the trend.
Since a lot of young people are investing in buying a property rather than renting it, one might picture the rental rates and demand for property rentals plummeting down. This, however, is not the case. There are still a lot of Youngsters looking to rent properties until they save up to buy their dream home. The demand has rather increased than decreased with a large number of people moving places regularly. The top builders in Kerala have taken to building apartments both for rental and selling purposes alike. Which we say, is a wise way to play in the real estate market as of now. Flats in Kerala have always been in demand due to the charming weather.
Increase in affordability
There has been a decrease in the EMI to monthly income ratio. This combined with easily acquirable and easy to pay back home loans has led to people buying property on a large scale. Apartments in Kerala have recorded higher sales than ever before. After the pandemic, the number of people migrating for jobs again will increase subsequently. This will lead to the real estate industry booming back to what it used to be, better even.
In the end, it wouldn’t be wrong to say that development and sale, as well as rental of real estate, would be immensely profitable in India in the coming year and forward. With the shady clouds of the pandemic slowly drifting away from us, the rays of the booming business arrive. If you had an investment into the Indian real estate market in mind, now is the right time to do so