Times Like This are Best for Real Estate Investments.
The COVID-19 disaster has bought a major setback to the real estate sector. The home buying period has been massively impacted, and businesses continue to remain low. This has, nevertheless, not impacted the prospective buyers’ feelings much. According to a recent survey by 99acres.com, near to 60% of inquiries homebuyers who were looking for purchasing a house before the pandemic are still planning to buy their homes within a year. However, 40% of consumers have delayed their plans. The major contributor to holding the purchase decision is uncertainly at (52%), supported by financial reasons (30%).
Real estate demand & supply mechanics
On the other hand, industry specialists anticipate prospective demand for residential plots and on the other hand, homebuyers seem reluctant to lock deals over virtual inquiries and give a rain check on their purchase decisions. Nevertheless, the recent survey by 99acres.com showed that (31%) respondents still consider real estate the best option to invest, followed by a fixed deposit (24%), gold (24%), and the stock market (21%).
Reflecting on the same, the Cities that have IT/ITeS or pharma clusters are certainly showing marked improvement in terms of the need for housing. As far as the inquiries are concerned, interestingly, they have gone up and the virtual site visits have come down to low power. People are more than ready to come and visit the sites. Simultaneously, the conversion rate from site visits has gone up. The clients are actually calling up and enquiring about properties. Things are warming up better than anticipated.
We Shree Balaji Group - Top Real Estate Developers believe that the COVID-19 crisis has floored the way for new opportunities and business trends. Online inquiries have grown as people want to narrow down their choices to only a few projects for real site visits.
As site visits are still an unavoidable step, therefore, developers are guaranteeing safety for the buyers at the site and are encouraging buyers to a site visit.
We are also encouraging people to site visits so that they get the exact look and feel of the property. We have sanitized our sites and have installed proper sanitation systems to ensure the safety and well-being of our clients. This has assisted us to build trust among the buyers that they will get their money back in case they dislike the property during the site visits.
Developers do not anticipate any major cut in property prices in the post-COVID world, which was also highlighted at a Realty Buzz webinar conducted by 99acres.com.
There are primarily two questions that have been raised during the COVID-19 crisis – why should I buy now, and would property prices decrease? Apart from homebuyers asking these questions, market demand has more or less remained the same as at the pre-COVID-19 times. So, I would say, none of the brands who have been able to continue their development work during the crisis would slash prices.
Industry experts also believe that there is hardly any room for a reduction in property prices. While sales have been low in the recent past, the market has not been great. Moreover, policy reforms, such as RERA, GST, and demonetization have impacted the market to a great extent.
The outbreak of COVID-19 is yet another major blow to the industry. If you take into consideration the rate of expansion over the years, the rates have gone down. The developers are already working at low margins.
Despite all odds, they have still been providing 7-8 percent price cuts in order to facilitate cash flows.”
Timing to Invest Matters Industry experts feels that this is the right time to buy a house because buyers are likely to get better deals and prices may go up shortly.
It is a great time to purchase since we are sitting at home loan interest rates which are at an all-time low. While a price correction is highly unlikely, especially with marked developers, it would be a good time to grab a good deal in the loan market.
In the survey of 99ares.com, homebuyers showed a strong affinity towards ready-to-move-in properties. 85% of buyers believed ready-to-move homes are safer than an under-construction property.
This is the best time to buy a property, especially for end-users. While the interest rate for the housing loan has gone down, the affordability has increased over the years. Moreover, the prices have not increased much from the last 6-7 years. As anticipated, the prices might go up in the ensuing months due to an increase in the velocity of the sales. Hence, we are here to endorse the jewels of Shree Balaji Group. We have a plethora of Luxurious Residential Apartment for Sale in Ahmedabad.
Ultra-Luxurious 3|4|5 BHK apartments that portray futuristic infrastructures and lifestyles that are flushed with Ultra-modern amenities.
In the Heart of the city
Shree Balaji WIND Is developed by Shree Balaji Group, a luxurious and distinguished residential development society having 2|3 BHK apartments with attached gardens, as well as a 3BHK penthouse that will be coming up in the rapidly expanding residential vicinity of Karelibaug. This project has been designed by well-accomplished architects who have organized the structure of the building to be in outstanding shape with best-in-class facilities and high-class amenities. WIND offers 3BHK apartments where each apartment covers a minimum area of around 1223 sq. ft. Most prerequisites are available here, strong exteriors, and world-class amenities that include a wide range of luxuries, only we offer in the market.
Wind brings a lifestyle that benefits both royal and lifestyle spread over an area of 3 acres that comprises of 2 BHK & 3 BHK Apartments with 3 BHK duplex Apartments. The master plan of Shree Balaji Wind offers people a solid connection to their surrounding’s by promoting a sense of community whilst balancing the project with a distinct private address for individual homeowners. Out of many world-class amenities, the major amenities in this project are landscaped garden, firefighting system, Level 5 security etc. simultaneously, their services are directed towards decreasing the amount of effort it takes to find a dream home.
We at Shree Balaji Group are accustomed to providing nothing but the best to our customers. Luxury, Location & Convenience at your doorstep. If you belong to those who have a luxury niche, the life that will suit you, you can check out the premium luxury apartments n Vadodara|Mehsana|Ahmedabad by the one and only Shree Balaji Group.
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