October 28, 2020 | Uncategorized | No Comments
The real estate market has seen a lot of upset since the past few years. The real estate scene in Mumbai is becoming one of the best in the country. Mumbai is the forerunner to cause changes in the real estate market all around the country. Ever since the COVID-19 lockdown every real estate company in Mumbai has speculated a comeback. This is good news in a long time to grace every real estate company in Mumbai. The developers who are witnessing the change are more likely to ride the success wave. Is the real estate market going to make a comeback after the COVID-19 lockdown?
If you were to believe economists the big comeback for the real estate market was set in the year 2020 but it all changed with the COVID-19 attack. Since the pandemic hit the coast of India every developer was nervous about suffering greatly due to another slowdown. But the lockdown has been good for real estate as it is teaching bringing in people from the rental markets who have understood the importance of owning their own house. The residential property in Goregaon prices even before lockdown had seen some dips but was fairly stable. The suburbs of Mumbai are performing extremely well during this revival of the market as it can be noticed by affordable luxury homes in Mumbai. The prices and demands are expected to start growing after the COVID-19 lockdown ends.
Every market has seen a massive slowdown during the pandemic and the real estate market in Mumbai is no different. The affordable luxury homes in Goregaon that were projected to be sold off this year have not been possible mainly because people were not allowed to step out. The move was put in place by the government to stop the spread of the disease but it is also why the economy took a hit. However, the real estate market might have flinched too hard because they weren’t as heavily hit. Once the lockdown ends the real estate market is expected to build its momentum slowly but the market is expected to grow consistently without upsets.
Due to the pandemic, the prices of residential property in Goregaon have either fallen or stayed stable. The prices of affordable luxury homes in Goregaon are set to rise to make them less affordable soon after the lockdown if economists are to be believed. If you are an investor now would be a good time to invest in residential property in Goregaon so that you get maximum return on investment once the market starts witnessing an upward trend. If you invest in affordable luxury homes in Goregaon now you could expect your investment to grow along with the market growth.
Like we stated above the pandemic has opened the eyes of people who used to live in rental homes and they now understand the security of owning a house. Living on rent is also cumbersome when you are living on reduced pay or dwindling savings. People due to this pandemic are looking into finally stepping up and buying affordable luxury homes in Goregaon. People have been looking up residential property in Goregaon and have been trying to get in contact with Real Estate Companies in Mumbai to get more insight into buying the flat they are making.
The government was offering heavy tax rebates starting this year to help the real estate market gain back the traction. The seeds that were laid by the government in previous years are slowly starting to bear fruits. The younger generation is drawn towards ownership rather than renting living space.
Given all the signs the prices of real estate could see a steady increase in them after the lockdown.