The whole world is facing the inevitable consequences of novel coronavirus (COVID 19) which have impacted almost all the sectors across the globe. It is still uncertain on how different sectors are going to react, post-pandemic. Surprisingly, the post COVID situation might be beneficial for Indian home-buyers. Yes! You read it right! As it is said that after every dark night, there is a brighter day!
Let’s decode it and see how the real estate industry might boom after COVID 19 chaos!
As you know, the stock market has dived deeply causing an economic slowdown in the country. It will still take some appreciable time to get stable. But, surely, the stock market is not the safest option for investment. People might actually turn towards real estate properties, land parcels considering them as the safest of the options available. Considering the current rate of 1 $ to be 76.24 INR, there is the possibility of NRI investments getting strong and better.
Apart from this, there’s a possibility that Indian Government & RBI might infuse a large amount of money for economic revival like the USA did a few days earlier to stabilize the growth and improve economic disaster. There is also the possibility of reverse Migration from the USA and other countries which might lead to having greater demand in Premium Residential Apartments.
With Lockdown 1.0 with 21 days and Lockdown 2.0 of 19 days, probably might have made people realize that they are living in a small home. Current house size might not be enough for them and hence they might look for an upgrade. People living in 1BHK might look for a 2BHK, People staying in a 2 BHK might shift to 3 BHK, 3 BHK to Villa etc. Considering this probability getting true, there might be an unparalleled demand which will make it a lucrative deal for Investors as well as for end-user.
So, homebuyers, what are you waiting for! Good times are coming!