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Planning to buy a house? Is festive season a good time to invest in real estate

Are you planning to move into your home or buy another home? Many homebuyers consider the festive season to be a great time to buy a home. Real estate as an investment asset class has infinite benefits if the right location, the right developer and the right design element are chosen. The festive season of Dussehra and Diwali is propitious for making investments.

Suren Goyal, partner of RPS Group, said that buying a property during the festive season is mainly due to three reasons: a) it is considered an auspicious time to invest in something of value; b) It is also the time to launch new construction projects; c) Real estate developers are known to come up with interesting offers and schemes to attract buyers to their projects.

But the biggest factor driving people to buy homes today is their experience during the Covid-19 pandemic and lockdown. Soren Goyal added that it has made people reconsider their priorities and thus home ownership gained importance as it provides comfort and security.

Buying a second home makes sense right now, as developers offer discounts and other exciting deals during the festive season.

Ankit Kansal (MD and founder of Axon Developers) in Maharashtra said that the second national markets in Panvel, Alibaug, Lonavala etc. they have already started to see a big change in demand with the Ganpati festival.

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Meanwhile, other prominent markets like Goa, Sindhudurg & Konkan, Nainital, Dehradun, etc. They are in strong demand. He said southern markets such as Ooty, Nandihills, Bannerghata, Vizag and others are also seeing increased demand.

In general, the market for closed villas, second homes, country houses, etc. is growing at a rapid rate.

"Developers and/or financial institutions work hand in hand to generate irresistible deals and offers that help many followers to close the deal and take advantage of the high demand to accelerate sales. For the buyer, it becomes essential that he is The objective of the investment is clear, whether it is recurring rentals, appreciation, vacation rentals or a retirement home.”

The real estate sector has made a massive comeback after the pandemic, said Siraj Saeed, director of Aret Group. This trend seems to continue to gain momentum during the upcoming holiday season, when buyers tend to invest in real estate, as it is considered an auspicious time to buy a home.

"Another major factor driving people to buy homes today is their experience during the lockdown when we were restricted to staying within four walls. It made us rethink our priorities, which is why owning a home gained importance as it provides comfort and security." ".

"The festive season is also when luxury real estate prices drop to reasonable prices," said Anurag Goel, director of Goel Ganga Developments.

Also Read: Vedanta, Foxconn to invest $19.5 billion to set up semiconductor plant in Gujarat

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