What are some Emerging Trends in the Residential Real Estate Market in Indore
The real estate market has witnessed rapid growth since 1991 and has been unaffected till now. The rise and augmentation of the sector were assumed to be affected by the imposed lockdown. However, it only prolonged the sales of the properties- the demand for owning the property has been increasing continuously.
As life gains back its pace post lockdown adapting to the ‘new normal,’ the real estate sector is no behind- catering to the needs and demands of the home buyers while adapting to the emerging trends. Some of the growing trends are:-
Consumer’s convention
Selling and buying houses is a perfect balance of amenities, luxe, comfort and budget. Due to the stagnant sales in the locked-down era, an inventory of ready-to-move units has accumulated. To boost sales, builders offered lucrative deals, making homes affordable to fit the needs of the buyer.
Work-from-home upgrade
Working from home is the crucial part of the ‘new normal’ lifestyle we all have adapted to. Potential professional home buyers seek spacious abodes to set up a comfortable working space. There is a rising demand for such properties, especially in 2 and 3 tier cities such as Indore.
Young home buyers
Undoubtedly, this pandemic has taught us the importance of owning a house. The stock market ups and downs, on the other hand, have taught us the importance of owning physical assets such as homes. Hence, the millennials are investing vastly in real estate.
Digital hunt
With given the circumstances, the prospective buyer base is all online. Instead of visiting each suitable property that fits the budget, buyers prefer opting in for safer measures. They are turning to the online portals for checking the properties, comparing the prices and facilities.
Ready to move
Due to the numerous benefits of ready-to-move-in units, there has been a 34% surge in prospective buyers. A preassumed delay in the completion of under-construction properties might also be a reason for the rise. Having a ready to move home also opens the domains of great returns on investments by renting out the property- partially or entirely.
The current market seems to have massive opportunities for home buyers and investors, with many government policies and easy financial aid supporting the cause. If you are considering buying a home and need to understand the technicalities, reach out to our expert team. We ensure you get the best of everything from advice to abode of your choice.
