Real Estate: The safest Option to invest during post-Covid Pandemic
The COVID Pandemic era represents a radically transformed and changed Real Estate market, with the preferences of changing to accommodate new market realities. With Work from Home a go-to option even after the lockdown, many future homebuyers will shift to the peripheral areas for bigger homes and a better lifestyle- at more precisely appraised prices.
The previous ‘gold standard’ of Indian housing – the Walk to Work/ short drive to work, by definition only in and around central corporate workplace hubs – may shed some of its popularity for the middle class.
- Recent trends in Real Estate Market :
In the recent Work From Home (WFH) trends, the ‘walk to work’ concept has slightly lost some sheen, and prospective homebuyers will seek senses in shifting to city peripheries, among many trends. According to the real estate professionals, the Work from Home concept has become the next key point for home-buying decisions, where the Walk to Work opportunity had held the longest sway.
“This, and millennials’- this is often the new preference for getting instead of dealings homes, area unit among the foremost distinguished new Real Estate Market trends of the COVID-19 era. With the increase of the WFH culture, many may now prefer to live in more spacious and cost-effective homes in less central areas. Whereas sufficient supply presently exists in most of the peripheries, this new demand will eventually also dictate fresh supply.
- Affordability and Price Amount:
According to
the property developers and promoters in Mumbai, the Real estate and the land market are now running on the home concept work. The cost analyst of real estate difference for the country’s one of the largest economic dynamos – MMR( Mumbai Metropolitan Region) is below. The rent and buy debate includes extremely subjective problems. However, since the millennials area unit has become more interested in homeownership post-COVID-19, it’s worth valuing to measure what works better for most within the current circumstances.
In Mumbai,
1.The average price for a standard 1,000 sq. ft. (
for 1 BHK flat in Mumbai) property in areas within city limits is approximate Rs. 1.85 crores, against Rs 55.35 lakh.
2.In the peripheral areas (according to
property developers in Amaranth) – a 70 percent cost difference.
3.In the places Andheri, Kanpur, Amaranth, Pune, Kolhapur average monthly rent for a standard or
low cost 2BHK flat is within Rs.40,000- 45,800, against Rs 12,500 -17000 in the peripheries(
for low-cost 1BHk and 2BHK flats near Mumbai). Real estate is one thing that system will increase in worth over time and outperforms alternative investments. Additionally, it is not as vulnerable as other shortly run investments because of the stock exchange. You get a tangible, usable plus, whether or not you are dealing out associate living accommodations or industrial building for financial gain or income to buy a home.
