The festive spirit is expected to culminate in a successful year for the real estate sector in 2023 and set the stage for an even stronger one in 2024.
The festive quarter brings a significant shift in financial focus, with the real estate sector emerging as a prominent highlight. Real estate investments are seen as a robust and enduring asset class, often overshadowing traditional investment options. Several factors contributing to the increased appeal of real estate investments include increased financial liquidity, heightened market activity, and the opportunity to acquire property at an opportune moment.
Real estate investments are also recognized for their resilience and potential for long-term growth. As the festivities unfold, there is a noticeable surge in demand for properties that can serve as both homes and valuable assets. This trend highlights the unique advantages of property investments during the festive season, making it an attractive choice for those looking to diversify their investment portfolios.
Abundance of Offers, Discounts and New Launches
One of the foremost reasons for the surge of real estate investments in the festive season is the abundance of offers, discounts, and tax exemptions provided by developers. These offers are strategically designed to attract prospective buyers who wait eagerly for the festive season to invest in properties.
Developers are acutely aware of the prospective real estate investor’s enthusiasm for new investments during the festive months. As a result, they eagerly anticipate this season to launch new projects and clear their existing inventory. The festive season sees a significant influx of project launches across various budget segments, providing investors with a diverse portfolio of newly introduced projects to choose from. This not only expands the options available but also fosters competition among developers, leading to more attractive offers for buyers.
Empowered Investment choices
During the festive season, many salaried professionals witness a boost in their financial resources, thanks to year-end bonuses and workplace perks. This surge in disposable income empowers both homebuyers and commercial property seekers to explore larger and better-suited spaces, expanding their choices and making properties that might have seemed out of reach more accessible.
The influence of the festive season on property values extends far into the future. With a projected Compound Annual Growth Rate (CAGR) of 10% expected from 2023 to 2028, the Indian real estate market is poised for sustained and gradual expansion. This growth trend is particularly promising for investments initiated during the festive season, as they are well-positioned to appreciate consistently over time. Individuals who seize this opportunity can enjoy benefits that extend beyond the festive cheer, as their investments hold the promise of lasting value and enduring financial gains within the real estate sector
In conclusion, the festive season in India plays a pivotal role in the real estate market, as it sparks heightened spiritual and consumer sentiments, leading to significant investments in dream homes. Real estate developers eagerly await this time of year to capitalize on the buoyant sentiments. Despite the changing dynamics post-pandemic, the emotional value of owning a real estate property remains substantial. The festive spirit is expected to culminate in a successful year for the real estate sector in 2023 and set the stage for an even stronger one in 2024.
Reference : Financial Express