How Has COVID-19 Pulled Millennials to Invest in The Realty Market
How Has COVID-19 Pulled Millennials to Invest in The Realty Market
The demand for purchasing apartments among Indian millennials has improved compared with pre-pandemic stages. Millennials are those referring to the generation born between 1980 & 2000 are fast entering their prime spending years. Growing up in an age of quick change, they have a set of priorities & expectations that are completely different from those of the older generations. That is, they don't want cars & houses but just need fun & convenience. But now they start seriously thinking about owning a home with the best facilities around. So, it has been countersigned that even the current populace is getting ahead putting their hard-earned investment into a home since the lifestyle patterns are relied upon to change significantly after the pandemic stage ends. This rising demand is in part being driven by millennials expecting reduced mobility in the forthcoming as work from home culture takes hold, along with an increasing sentiment swing towards savings and asset making post-pandemic. So definitely, the pandemic has made them realise the significance of owning a home instead of leasing one. Owning a home has consistently been a crucial portion of the investment plan, and under new typical rules, purchasers are seeing a value proposition for investing in the realty market. Read on to find out reasons that pulled millennials to invest in real estate.
Opted for Owning Rather Than Lease for Getting A Lifetime of Comfort
When you spend for a property you don’t own & you don’t create equity. Eventually, your money is raising your landlord’s assets and future, not your own. Owning a home is a clever way to build lifelong wealth. Although purchasing a house can be costly initially, if you factor in the expenses connected with renting, owning your own home will truly end up cheaper in the long run. As well, now the outbreak of Covid-19 has insisted on the value of a safe & the reliable home that creates a lifetime of comfort. Usually, the 25-40 age group, who did not give much preference to purchasing a home because it provided them with the flexibleness to shift jobs and hop cities, is now more than ever serious of having a physical asset. The reason more millennials are interested in investing in property for self-use is that it is now much more affordable to purchase a house and deals are accessible in the market.
Historic Home Loan Rates
Now the home loan charges are at historic lows, the calibrated resume to the economy of India sees a flood of enquiries from the potential homegrown as well as NRI home buyers. Taxation profits on repayment of home loans add to the dealings being too good to resist. Falling interest rates attract less interest earned on bank fixed deposits in comparison to the rental profits earned in real estate investment and besides enjoy the profits of capital appreciation.
Returning NRI’s
Real estate will be assured for both end-users and investors in the post-pandemic world. Millennials living in rental houses have understood the worth of being in their own apartments while NRIs encountering challenging times in their present domiciles are staring at constructing a house when they return in India. The size of the NRI investor market is now large in the affordable and mid-segment housing section. The falling rate of the rupee & the present situation increases NRIs interest in buying residential property in their hometown.
Work from Home Impact
Recently there witnessed a substantial rush in the number of young people looking to purchase a home for end-use during the pandemic as mortgage rates are low & work-from-home is a new reality. The necessity for additional or extra space for home offices is on the rise, with the necessity for more well-planned designs. The importance of business centres, common amenities, and more open spaces will be an integral part of the new demand criteria in the post-COVID-19 world.
Summing-up,
Due to this pandemic real estate is witnessing a tremendous change in consumer behaviour. Owning a house is now seen as a priority in the context of safe & secure investment. This will steer intensified demand for homes, as the economy sees a calibrated resume. If you are looking for a right builder to start your investment, then here is your right choice, Varma Homes, the best builder in Kerala. We have our best top-notch quality apartments in major cities of God's own country like Kochi, Trivandrum & Thrissur. Check out our unparalleled apartments, we are certain that you will be mesmerized. Invest your dream home with us, once you invest, you will have a long-term asset that will have value at any time. Take a browse through our website for more information on our ongoing apartment projects.
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New international airport terminal to cater to growing demand Cochin International Airport Ltd (CIAL) constructed an INR 1,100 crore international terminal with a built-up space of 15,00,000 sq ft. It is designed to handle 4,000 passengers per hour and the new international terminal will have a very positive economic impact and uplift the real estate market in the whole region. The catchment will witness the development of new retail and commercial spaces along with a good supply of residential and hospitality developments to cater to the increasing demand.The increased international connectivity will also pave the way for global companies and cargo-based businesses to deploy and expand operations nearby. The international terminal, along with an operational metro, will significantly boost the city's real estate market and the catchment itself is expected to witness 15-20% rise in property prices.Education and ProfessionWhen buying apartments in Kochi, you should think about the educational and professional facilities available. Kochi is home to some of the country's most prestigious educational institutions. In the city, many foreign schools and institutions provide high-quality education. Kochi is now a burgeoning IT center, with the Infopark and Smart City providing a plethora of career prospects. As a result, professionals and the general public can find a wide choice of work and business opportunities in Kochi.The Support system: While we were busy living our lives indoors during the pandemic, there was a whole bunch of livestock, organic farms and godowns ready to serve the city's needs. Terrace gardens, farms and Fishermen folks slowly get their day-to-day activities eased and go smoothly, which essentially provides for you and your family in the future. Destination of Opportunities: Now, as Kerala has become the number one state in the entire country to show more positive signs in the recovery mode, the opportunities are flooding in. Being the perfectly modulated economic zone in the state, the city of Cochin is the number one prime spot for some major investments in the coming times. A recent report from a National Daily suggests that the manufacturers who are backing out from other countries are looking forward to investing more in India, especially in Kerala. This stands for new opportunities in business ventures and the job market. This way, it is possible to consider your apartment in Kochi and that dream will be paid off in the future. Market for happiness: The city of Cochin which we have witnessed, even before the pandemic was struck, has a lot in its bag and will reclaim its space, once it's all over. The hotels and restaurants are coming back to the track, the hangout places in Fort Kochi and Marine Drive will kick-start with people coming to share their thoughts and love. By securing your flat in Kochi you are invited to partake in these lasting moments of true happiness and smiles.Bottom lineKochi, not now but always stands for the richness of both culture and heritage making it a sought-after travel and tourist destination. This also makes a good reason for you to enjoy a bit of culture and heritage and carry forward the same in your life with your dream home. With all modern amenities available on tap, buy flats in Kochi, an ideal location for buying your dream home.For a luxurious and posh apartment, you can visit our website and look for flats in Ernakulam and Kochi. The team at Varma Homes is devoted to creating high-quality commercial and residential projects that are both inexpensive and attractive.
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