The coronavirus is a worldwide pandemic that has overwhelmed the world. Almost everybody across the globe finds a safe heaven within their homes while we also see an economic slowdown with multiple businesses finding it difficult to survive. The real estate industry has felt the heatwave of the pandemic, making buyers and sellers more concerned about the real estate investments during this period.
If you are looking to buy a property in Pune and wondering whether the COVID-19 pandemic has impacted prices or real estate investment in any way, the answer is encouraging. Pune has a perfect mix of IT/ITeS, manufacturing and services industries, which gives it a decisive advantage. Moreover, it perpetually presents itself as a significantly more affordable property market than neighbouring Mumbai – while providing a comparable lifestyle – and, going by the recent Ease of Living Index, a better one
Will it be Safe To Invest In Real Estate During Lockdown?
Probably the greatest inquiry posted by financial experts / specialists is whether it is as yet safe to put resources into real estate during this worldwide pandemic. All things considered, this isn’t the first occasion when a pandemic has happened. However it might be the first occasion when it’s happened on a worldwide scale.
Why You Should Invest In Real Estate
Talking about The Real Estate Industry or any other industry, possibly the way we deal with things and the way we do business would change. But, for now, Real Estate is the focus and we would like to bring around and elaborate the changes which would occur in the way real estate industry would be seen by the world. We have picked up a few pointers which would in turn reduce your efforts in searching and would give you the required information in the best possible way.
Overall, the interest rates have reduced. This has allowed businesses to take the requisite advances and are expected to keep running. Lower rates of interest by banks increases the purchasing power of individuals who need to enter the real estate market. So as a real estate agent, there are chances of more leads and more people will be purchasing a property.
Reason For The Best Time For Real Estate Investment
The pandemic coronavirus has disrupted all the markets and businesses and has also, to some extent has affected the housing market. This is the right time for the people to invest in the real estate market as this will fetch a huge amount of return in the coming days. But there are some points which make it an opportunity for buyers to invest upon.
Tangible Asset :-
The first thing is that land, properties, flats are of tangible nature and will not change over time. They come under the non-volatile category i.e they remain the same for years if left untouched whereas the stock market is of volatile nature and will change overnight. This sense of security makes it feasible to invest in real estate as these assets won’t be changing overnight.
Attractive Prices :-
During this crisis, people are in need of money for running their lifestyle, due to which people are selling their lands and properties at much cheaper rates. Adding to that, people are giving offers so as to get customers for their properties. People love to have a good deal on their purchases, they like to have more lucrative offers. This not only allows sellers to gain more attention but also the customers to take advantage and buy properties at a very lucrative price. Also during this time, you can easily get payment options and loans at a much cheaper rate which will make you purchase your dream house.
Long-term investment :-
As we all know, buying land or real estate is never a short term investment, rather, it is a long term investment process. Buying land will not give immediate profit, but it will fetch you a profitable business over a long period of time. Investment in real estate brings a high return on investment in the long term, so considering this fact making a purchase during this time will be a future investment for you.
Low home loan rates :-
Due to the corona outbreak, various state governments have given relaxation on home loan interest rates. This relaxation can make the best opportunity for buyers to make an investment in real estate. With ease on loan, you can easily think of making an investment in your dream home. Lower home loan rates will increase your budget and will allow you to go for an extra edge of your budget while making a purchase
More Time For Research :-
Guess what, you won’t be having a much time constraint now i.e during this lockdown period, most of us are free and are staying at home. This brings an ample amount of time at your side, which you can utilize to analyze the market and make a deep research on real estate. You can negotiate with realtors to get the best pricing for the home or property which you have selected to make an investment.
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Mr.Siddhu Adhav.Property Consultant Since 2010