Why 2022 Is a Turning Point for Real Estate Sector?

If you think that the pandemic or its variant is going to bog down the real estate in India then you are way off the mark. Several pointers suggest that 2022 will be a turning point for the sector and it will regain its lost ground in the new year.

Customer is the King

Pandemic-induced lockdown forced people into working from home. Kids also carried on with their studies from their home and everyone realized the importance of having their own home and the security that it provides. No wonder the demand for a home that offers complete lifestyle solutions became louder and stronger.

The real estate industry rose to the occasion as developers came up with new projects that focused on buyers’ requirements. Attractive schemes like reduced down payments, group discounts, free furnishings of the houses, stamp duty paid by the developer, EMI holidays, etc. were launched and are expected to be carried out in the new year.

Time indeed is favoring the home buyers as they can buy their favorite home easily with all the incentives.

Low Home Loan Rates

Thanks to the pandemic, the home loan rates have plummeted to a historic low with RBI (Reserve Bank of India) keeping the REPO rates as low as 4.25%. The move has a direct impact on the housing loan disbursements with the home loan rates remaining low. This made home loans affordable to a large section of people. With slashed rates expected to continue in the new year, home loans would continue to be affordable enticing many to go for their own homes.

Handsome Return on Investment (ROI)

Despite the pandemic hitting the global economy hard the demand for the residential sector continue to rise and the trend will continue in the new year. The robust and recovering demand guarantees a healthy return on investment as the prices are bound to increase in the coming days, particularly for the top 8 cities in the country.

 Housing for All

Pradhan Mantri Awas Yojana (PMAY) will come to an end in 2022. The year will witness the launch of the affordable housing schemes which would make available the much anticipated low-cost homes. Developers engaged in the project would get loans at economical rates as well as other concessions.

Housing cost has also witnessed a slump thanks to modern technologies. This augurs well for the middle class and the economically weaker section (EWS) of the society who would now have more and superior housing options.

You can expect SMC Real Estate Advisors to help you buy your dream home at the best possible rates from the prominent builders in the country. You can now have your own home and enjoy the security that it brings.