Covid-19

Signs of revival in the real estate industry

As we analyze the COVID-19 impact on real estate, we find market sentiment is subdued as people are cautions and avoiding business transactions. Even Though the real estate sector has started showing signs of revival.

Homebuyers are enquiring about the different projects and working on the best deals available in the market.

On the other hand construction and business activities are also resuming.

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So we assume if COVID-19 spread is contained within the quarter, demand in this sector will be very high and people won’t mind even in stretching their budget to buy their dream home. People have just postponed their purchases due to practising social distancing and self-isolation. Such people will buy soon as soon as things clear up.

We are optimistic that within the quarter things will stabilize and the real estate industry will bounce back. All the people, who are enquiring and looking for a property will close the deal shortly.

Indian Real Estate market post-pandemic - How and where COVID -19 is creating opportunity.

The covid-19 impact can radically remould our beliefs and behaviour. Colossal disruptions are the genesis of a fundamental shift in human attitudes that pave the path for new consumer requirements.

The emergence of the prominence of home

In the lockdown period, while staying at home for more than a month, most of the people realised the significance of owning a home and the safety that comes with it.

Causes of increased demand in the residential sector

Social distancing & Hygiene

In the present scenario, when social distancing, hygiene, and safe place to live and work is the priority, the residential segment is most likely to witness a paradigm shift in terms of emerging trends and the demand from millennials.

Safe Investment

Real estate is still going to be a safe investment in the long when every other investment such as stock market, gold, etc. are not performing well. It is hard to predict the future of companies, which makes the real estate as an investment option which seems to be more safe and secure.

Work from home

In times to come, with increasing trends of work from home, the requirement of residential projects will increase manifolds as that will provide a healthy environment not only for living but also for peaceful working.

Change in the mindset of youth

India has a huge population of youth, till now the youth generally avoided investing in a house and opted for renting an apartment. Pre COVID 19, they spent maximum time of their day either at the workplace or with friends at coffee houses or restaurants. On weekends they enjoy at a shopping mall or a movie theatre.

A paradigm shift in requirements in a residence

Developer should understand the need of today’s buyer and focus on that because buyers today will focus on different issues such as

2/3 BHK apartment with well equipped working space to set up a home office to take care of work from home or a Multi-purpose room along with excellent connectivity of wi-fi

Balcony garden wherein the residents can have access to home-grown organic vegetables for their daily use.

A peaceful environment in suburban areas will be preferred due to the rise in work from home.

Dedicated space for meditation to tackle the stress posed during these days

Social distancing will be the part of life for a long time so the developer will also have to come up with exclusive lifts for apartments and a lift lobby on each floor.

A clinic, well equipped with all required tools for proper screening of the visitors and service personnel, should be there at the entrance of the society.

Landscape with medicinal plants to purify the environment.

The points to be focused while buying will be different in the post covid -19 era. Not accepting the usual trend, post-COVID -19 will bring change in the outlook, and health and serenity will be the priority. People will have to navigate between home and offices to create effective dual work environments in an efficient way. Therefore, there will be a demand for uninterrupted and coherent work from home system favourable to productive work. For creating such a flawless and harmonious environment to work needs 24*7 uninterrupted power supply, excellent internet connectivity privacy etc. Healthy living, as well as working, will become the new norm that needs to be followed by the developers as buyers in the present time, will look for invaluable aspects of life.

How and where COVID -19 is creating an opportunity to invest and earn a good return

But on the other side of the coin, the question is there in everyone’s mind, is it the right time to buy or put my money in buying a house? But like it is with every cataclysm, this pandemic has also created opportunities for buyers. We can ponder over the following fact which can help you to make the right decision:

Don’t try to time the bottom

Don’t try to time the bottom. Nobody can and waiting for further fall because we have seen the worst and from here we can only see the upward trend.

Freebies by developers

Several cash-starved developers with unsold inventories may be forced to sell at a discounted price and offering freebies to combat the situation. This is a once in a lifetime opportunity to invest now because such offers will not appear ever in the future.

Government relief package

Govt. is also pouring several types of relief packages to buyers in terms of loans to increase the demand in the real estate sector, advantages of govt. Policies in affordable segment loan are extended for a year.

Premium properties by well-known developers at an attractive price

Weigh the risk of buying without visiting the location (which you likely can’t do right now) if you know well about the developer and area against the risk of losing a deal. In case you are a novice buyer, do wait until you can travel to see what you are buying. You can offer the agent a refundable downpayment to reserve the property.

Focus on premium properties by well-known developers in sought-after areas because such properties are the least affected in hard times and the first to recover.

Excellent return in the commercial sector

Apart from the residential sector, investment in the commercial sector can also provide good appreciation. In the present scenario, it appears demand for commercial space will decrease due to a rise in work from home policy, which can give you very good deals and can give you manifold returns.

There are reports that multiple businesses are moving base out of China and looking for alternatives, which is a positive report for the Indian economy and the real estate industry. Our human resource is our biggest strength to attract investment. FDI and FII will be driving force of steady demand in commercial real estate in India in the next few months.

Excellent return on investment in the residential sector in the suburban area

It is greatly possible that investing in a suburban area like Greater Noida will witness tremendous appreciation in the next few months or post-Covid -19 period because people will look for the location that offers a good and affordable quality of life as they will have work from home option which means they don’t have to pay costly rent and commute daily to office. Most of the people will relocate to a remote, peaceful place away from the hustle and bustle of the city.

The real estate sector is facing a lot of challenges in the present situation and tackling them efficiently. They are also gearing up to serve the changing requirements of the buyer. At the same time, the current scenario is also creating opportunities for buyers. However, the actual impact of the coronavirus remains to be seen in the times to come.