Real Estate Still Perceived As The Preferred Mode Of Investment
Homebuyers are likely to return to the market gradually as real estate is considered as a safe bet by investors. According to reports, real estate still leads the way for investors followed by gold, fixed deposits and stocks.
There is a change in behaviour post COVID-19 crisis which has hit the industry hard. The investors are looking to own house with safe and secure surroundings. Demand for houses with assurance of safety will naturally be in demand.
A study conducted also revealed that majority of the customers are preferring ready-to-move-in-house for end-use, while some of them were fine with a property that could be delivered within the timeline of one year.
Another survey has shown that homebuyers who were searching for flats have hit the pause button for now. The shift in mentality is because of the liquidity concerns and uncertainty over the ongoing pandemic. However, most of them will come back into the market in the near future.
Experts believe that real estate will be ‘positive’ in the post-pandemic world. People living in rental homes have realized the value of owning a house for their family. Naturally, these people will be in need of viable options as they will be eager to shift into their new home.
Meanwhile, NRIs who are desperate to return home would want secure their family by owning a house. Buying a house will be on top of their minds and investing in a perfect home is what they will be searching for right away.
Real estate will have to adapt to the changes and the new challenges to meet the requirements of customers. The demand for additional space in homes, efficient layouts, best-in-class amenities and more open spaces have all become more important than ever for homebuyers.
Also, real estate has always been less volatile when compared to share markets, which makes it a better option for smart investors. It is clear that people will now be cautious and look to spend less, while the emphasis will be on saving more.
Importantly, people who are looking to buy a house will have more than investment, profit, and safety on their mind. Securing the family with a home and safeguarding them is a primary concern. Therefore, the demand will slowly but surely begin to kick in once the crisis comes under some sort of control.