The year 2020 was a period of highs and lows for the Indian real estate market, and the COVID pandemic was the primary reason for it. Lockdown and quarantine due to COVID-19 have shattered housing inventory and sales. It has increased pressure on buyers, but we expect a good profit in the year 2021. As per the analysts, real estate companies are expected to hit new highs. Let us know why housing and economic experts are having a positive outlook for the year 2021. Things will surely take time to come back on track but never lose an opportunity to invest in real estate as 2021 is the right year to make a profit.
Why?
- Better selection: The 2021 market could be the best time to invest in real estate as things will be much more normal than in 2020. We have a better selection of homes to choose from. Start investing before prices go too high. Many of the people who were living in cities have sold their properties and moved to their hometown. It has given an abundance of options to real estate. Search for a deal with low prices but never make a compromise with its location and facilities.
- Comeback: COVID-19 pandemic increased homeowners moving to the suburbs and rural areas. As offices have now started and after unlock, demand for homes is again at the peak. We expect work from home to end soon so that demand will continue to risk for urban markets.
- House-prices: As per analysts, house prices will be slightly low during the first quarter of the year, but it will surely pick up. As an investor, it is the right time to profit from favorable opportunities by purchasing a residential home.
- Mortgage rates: After unlocking, mortgage rates will rise as people are now shifting towards cities. They now can choose according to their needs and get the best offers according to the circumstances. As an investor, it is the right time to get the maximum profit from a real estate investment.
Summary
COVID-19 situation is very uncertain. These are just predictions during uncertain times. No one is sure what will happen in the coming year. All we can do is expect the best and find opportunities for great deals. Make sure that you make a wise decision before investing anywhere.
Utpal Khot
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