The residential sector is surging owing to the festive season in India. Festivities are considered to be auspicious occasions for initiating any prominent task. Homebuying during the festive season is an emotion for every Indian household. Thus, homebuyers are gearing up to make the auspicious residential investment in this period. Moreover, the real estate has shown notable resilience since the beginning of the year and is now poised towards setting on an upward trajectory. Industry experts anticipate a remarkable resurgence in Indian real estate against the backdrop of the festive season through the year-end. Homebuyers across the country are on the quest to find their dream home with brimming enthusiasm. There are numerous factors contributing towards their surging interest in housing investment. The primary reason for this is their immense belief in the auspiciousness of such occasions. Homebuyers now understand the prominence of the physical asset and its rewarding returns.
The housing sector has witnessed astonishing growth throughout the year, and this festive season is anticipated to be the culmination of this positive growth trajectory. The demand for mid-segment and premium homes is increasing as homebuyers are willing to invest more for a better lifestyle. The increasing disposable income and discounted prices during these occasions are contributing to the rising demand for housing. The demand for premium homes is evident in Tier 1 cities and Tier 2 cities are also generously supplementing Tier 1 cities in the housing demand and sales. This rising demand is driven by several factors such as favourable interest rates, favourable economic growth, lucrative payment plans, etc. The housing sector is expected to flourish owing to its appealing aspects for both discerning homebuyers and seasoned investors. Despite property price hikes, the sustained demand for mid-segment and premium homes underscores the aspiration for an upgraded lifestyle and spacious homes. The evolving lifestyle preferences and need for enhanced convenience have bolstered the appeal of premium properties in sought-after locations.
As the festive season unfolds, it also offers endless and exceptional opportunities. Developers have recognized the enthusiasm among homebuyers and are offering a plethora of options to make homeownership more accessible for them. Developers have also geared up with lucrative offers and unmatched incentives to entice homebuyers. These benefits include reduced booking amounts, flexible payment schedules, and even additional perks like free furnishings or home appliances. These incentives are helping homebuyers bridge the financial gap and make their dreams come true.
As per Anarock’s Customer Sentiment Survey for the first half of 2023, around 59% of homebuyers are inclined towards mid-range and premium homes. This statistic highlights the widespread interest in real estate across various income groups, dispelling the notion that it’s limited to a particular segment of the population. What makes this resurgence even more noteworthy is the fact that real estate has emerged as one of the best investment options, often overshadowing traditional assets like gold. The combination of capital appreciation, rental income potential, and the emotional value of owning a home has made real estate a preferred choice for investors and homebuyers alike. It’s no longer just a place to live; it’s an asset that grows in value over time.
Considering these, the festive season is casting a bright light on the real estate market, with homebuyers showing unprecedented enthusiasm to invest in their dream homes. The real estate sector’s remarkable growth since the beginning of the year has set the stage for an even more exciting period ahead. The demand for mid-segment and luxury properties is surging, and developers are leaving no stone unturned in offering attractive deals and incentives to potential buyers. With these promising trends, the real estate sector is poised to redefine the way we view homeownership and investments. The auspiciousness of these occasions, coupled with the economic and emotional value of owning a home, has transformed real estate into the new gold standard for investment.