Real Estate Industry in the Festival Season 2022

20 Oct 2022

October month marks the start of festival time in India. We have very recently celebrated Ganesh Chaturthi and West Bengal’s famous Durga Puja. Basically, the festival season starts from Ganesh Chaturthi to Christmas and the new year also arrives at this time. That’s why it’s time for the auspicious season to invest in real estate property. In this blog, we will describe the real estate industry in the festival season of 2022.

This season is a much-awaited season of the year when home buyers purchase new homes/properties and many developers launch new projects for good sales, they also give many discounts and gifts to their customers. The trend of the Indian festive season becoming the annual high point for residential real estate sectors from traditional sentiment, it is the right time to invest in wealth-creating assets.

Why should we buy a property during this festival season:

Diwali marks a new beginning in our culture, wisdom to treat Diwali as an opportune time to invest in ideal assets is relevant even today. In this festival, why properties will reward investors more than any other asset class. If you invest in a down rate, returns will be still higher.
The present home loan interest rates are unlikely to compress the sustainable housing demand as the price band is still within line of control. During the festive season, many leading banks offer limited-period home loan schemes with lower interest rates and waivers on home loan processing fees. We are seeing many home buyers who are eager to conclude deals this festival season. The market continues to experience end-user-driven demand, and we are already noticing a trend of more serious home buyers closing sales.

During the festival season, the real estate market is totally set to shine. In the present months, the real estate market has exhibited a solid recovery from the pandemic shocks that caused state-wide lockdowns in the preceding two years. 2022 has seen a significant increase in home buyer confidence, particularly among first-time home buyers.

Conclusion:

The real estate industry in the festival season of 2022. However, while investing in property, buyers should not only look for attractive deals but also consider the reputation of the developer, the location, and the amenities that the developer has to offer. This year has significantly increased home buyer confidence, particularly among first-time home buyers. This auspicious time has emerged as a fantastic time to invest in the real estate industry.

Written By- Moon Sarkar