While people may enjoy and build memories by exploring the world, your home is where you find ultimate peace. The warmth, comfort, and a feeling of security that you can experience being on the premises of your house cannot be achieved elsewhere. It is needless to emphasise the importance of owning a home – an abode of extreme tranquillity.
With the growing population, rising demand, and increased cost of houses, almost everyone finds the dream of purchasing a home to be challenging. However, from the ongoing market scenario and claims from industry experts and analysts, it is viable to state that 2022 will be a favourable year for the real estate sector and the best time for homebuyers to invest in a property.
Below, we have outlined and discussed the key trends that will bring magnificent growth in the real estate industry in 2022 and entice many people to buy a home for themselves:
- Attractive Schemes for Homebuyers
Due to a temporary hold on the market’s momentum during the lockdown period of the COVID pandemic, house developers and builders have taken various initiatives to catalyse the recovery of the real estate industry. By bringing attractive schemes for homebuyers, sellers are able to bring in more customers. From deferred instalments to EMI holidays, potential customers will find many reasons to invest in real estate. Other schemes include reduced down payments, refundable stamp duty, 0% registration fees, complementary furniture or home accessories, and more.
- Affordable Home Loans
A historically low-interest rate for home loans was observed during the COVID crisis. The Reserve Bank of India took measures to keep the REPO rates as low as 4.25%, which helped reduce the interest rates of home loans. Even in the current year, many private and public sector banks are offering affordable interest rates between 6.5 to 9.5 per cent. These attractive numbers have encouraged many homebuyers, especially middle-class people, to consider investing in real estate.
- Good Return on Investment (ROI)
In the past few quarters, house sales have continued to increase, thereby building a great potential for investors to earn handsome returns if they decide to resell the property. As per the stats, in the third quarter of 2021, house sales surged by 46%, while a remarkable 86% growth was registered on a YoY basis. Experts believe that investors can easily fetch 10-15% return, with a 20-25% margin in Tier-1 cities of India.
- Government Support
With its flagship mission – Pradhan Mantri Awas Yojna (PMAY), the government of India has aimed to make housing for all a convenient and affordable affair. Lower middle-class people and economically weaker sections will have access to better housing schemes and low-cost homes. In addition, real estate developers who contribute to affordable housing can benefit by receiving cheaper loans and other rebates.
- Best Time to Invest
Experts claim that the current year will be the best time to invest in real estate. Low-interest rates, a range of schemes and support from developers and the government, and other incentives have made owning a house easier for everyone. Those days are not too far when the market will have fully recovered, and the price hike of up to 30% will be the first impact people will witness. Therefore, taking timely actions and efforts to find and buy a suitable property will be highly beneficial for homebuyers like you.
At Ashwin Sheth Group, we believe that buying a home is not just an investment for everyone but a dream for many. We take various measures and bring in multiple schemes to make owning a house a feasible and smooth task. Moreover, we partner with world-class designers, architects, and engineers to develop sites that are not less than paradise for homebuyers.