Real estate continues to be preferred asset class for investment amid pandemic
Housing.com and NAREDCO survey found that the majority of home buyers want discounts along with flexible payment options as an incentive.
Real estate remains the preferred asset class for investments even after the COVID-19 pandemic, but the majority of homebuyers want discounts and flexible payment options as incentives, according to Housing.com and NAREDCO surveys. The real estate portal carried out the survey from January to June of this year with more than 3,000 consumers.
According to the survey results, real estate is the preferred form of investment for 43 percent (35 percent in the previous year) of those surveyed, followed by stocks 20 percent (15 percent in the previous year), and fixed-term deposits 19 percent (22 percent). Percent last year) and gold 18 percent (28 percent last year).
“The health crisis has increased the importance of home ownership around the world. As a result, the residential real estate market is seeing new demand not only from first-time buyers but also from many consumers moving to larger apartments. ”.Com Group CEO Dhruv Agarwala said.
“This spike in demand generated after Covid, aided by rock bottom real estate prices and historically low home loan interest rates, has helped residential property developers successfully navigate the difficult economic climate created by this pandemic,” he added.
NAREDCO President Niranjan Hiranandani said: “The value of the home has been enhanced by the COVID-19 pandemic with the renewed preferences. Integrated township living will be attractive as it offers a holistic one-stop lifestyle and also offers opportunities to work close to home. “
As the economic recovery continues to expand against the backdrop of the festive tailwind, buoyant capital markets, softening of home loan interest rates, record high foreign exchange reserves and rising foreign direct investment employment rates, as well as bullish demand stimuli, he said a cut in GST and the Tax breaks make a big contribution to strengthening sustainable demand and build on the positive consumer confidence index for H2 FY 21-22.
Among other key findings, the majority of respondents (71 percent) believe that flexible payment plans and discounts these days provide much-needed financial support and drive them to purchase decisions.
Strong home sales in Maharashtra’s two key markets – Mumbai and Pune – suggest that the state government’s cut in stamp tax between September 2020 and March 2021 played an important role in stimulating demand.