Investing in real estate and buying a commercial or residential property is a significant financial decision, and getting the time right, could make a huge difference in optimising the ROI. If you are a prospective homebuyer or investor, 2023 is just the year you have been waiting for. Here are the top 6 reasons why you must invest in real estate now.
The Promise of Plenty –
The growth in real estate sales through the latter half of 2022 and the expected growth through 2023 can be firmly attributed to a rekindled interest in owning residential properties. And quite rightly so, because real estate prices in Mumbai and other major cities are booming. Prospective homeowners are looking at quick asset appreciation and value for money. In fact, state governments like the Maharashtra administration have hiked circle rates or ready reckoner rates, reflecting the change in real estate pricing. It is really a good time to get on board.
Volatile Equity Markets –
Equity markets have been very volatile since the last quarter of 2022. The expectation that the announcement of the budget would provide a boost to the markets was marred by suspicions of manipulation in large scrips. Investors are now looking to secure their portfolios by investing in real estate and bullion – the traditional Indian favourites. Security is the buzzword, and Indian investors are lining up to let real estate grow their wealth when other factors decide the fate of the equity market.
Better Economic Parameters –
With fears of a COVID-19 resurgence firmly behind us, homebuyers are now looking to secure their dreams by buying flats in Mumbai and other major cities of India. With the economic climate improving and businesses picking up, the amount of disposable income in the hands of Indians is definitely higher than it has been over the past three years. And they are looking forward to realising their aspirations of becoming homeowners in 2023.
Budget Blessings –
This is a great time for those who are looking to invest in budget housing, have the complete support and endorsement of the government. Buying or selling a property involves a great deal of financial planning. In the Union Budget 2023-24, the finance minister announced an allocation of RS 79,000 crore for the Pradhan Mantri Awas Yojna budget housing scheme, of which Rs 10,000 crore goes to the urban infra development fund. So, if you are looking for a 1 BHK apartment for sale, this may be a good time to invest.
Forex and Foreign Investment –
While equity markets in India remain ambivalent, some of the top indices across the world have taken a hit too. The NASDAQ and other top exchanges have been trending low due to a spate of layoffs from multinational tech giants. Foreign investors are now looking to leverage the real estate sector in India. This will certainly boost the growth of the sector.
Tech Made Easy –
Real estate growth will also see a massive growth powered by the evolution of technology and innovation. The introduction of prop-tech tools has made developers more profitable by optimising resources and making construction more efficient. The financial benefits are also reaped by the end home buyers. Real estate platforms like Blox have put technology to the best possible use by using intelligent systems to match homebuyers directly with developers and bring them the perfect project to suit their needs. Furthermore, the adoption of real estate CRM systems has revolutionized client management, enhancing overall efficiency and customer satisfaction.