The last year and a half have surely asked us to regroup our lives and think upon the priorities that we have set for our lives- like how to manage the work-life balance or to invest in new opportunities, switching careers to planning vacations, and so on. It has surely come as a boon to so many ventures while isn’t serving the purpose of so many others. Some businesses like the IT sector have boomed through time because their work has not been hampered, even for a day while others may have struggled to stay afloat. Real estate is also amongst those who have grown over time, especially through the course of the last year and a half.
Upward Surge in Real Estate
The real estate sector has shown successful growth because people are constantly spending a lot of time with their families and loved ones. Therefore they certainly want to have most of the living spaces and are investing a lot more in the real estate sector. Pandemic has obviously added to this growth and has increased the demand for investing more in the real estate sector. Apartments and villas, luxury and state-of-the-art homes, people are willing to go above and beyond in their real estate investments.
The tier-1 cities of the country- Ahmedabad, Mumbai, Pune, Delhi NCR, and Bangalore have surely seen a huge increment in their home sales. Bangalore is amongst the top cities to have gained huge profits, especially because it’s also the IT hub of the country. The city offers a huge number of employments to people which serves as the perfect opportunity for real estate sector too and the pandemic has just added to it. People now want to live a proper life, maintain a work-life balance and invest time in both places. The work-from-home culture has only added to it because people now want bigger spaces so that they can distinguish between their personal and professional matters, have a workstation at home amongst everything else.
Recent Trends in Real Estate
According to the latest reports, tier-1 cities have seen a growth of around 57% in home sales. Comparing the quarterly reports of top-8 property markets for the month of June and September, the sales have grown up from 57,903 to 66,548 which make it an increase of 17%. Companies are also using it to their advantage and declaring several schemes and discounts to lure in customers. Festivities are also helping with the same because they are a perfect time when people want to spend on all sorts of big things.
All these things have reportedly just added to the already growing real estate market and people are happily investing and moving in their new homes, ready to start a new phase of life. Prices may rise up in the near future when things settle down a bit but for now, it’s all going to go up and if you are in any way looking to move places, now is the time.