The COVID pandemic caught the world unawares, resulting in panic, which had a negative impact on the real estate industry. However, this sector has since recovered considerably from the crash and has been on an upswing and steadily gaining momentum. The real estate industry is showing signs of a resurgence, and the number of buyers entering the market is increasing.
The threat of COVID is still looming, but humans are resilient beings and have adapted to the situation pretty well. Life has to go on, and business is now being conducted as per usual, with some vital restrictions in place. The real estate industry is pushing ahead with its plans of expansion, and several new development projects are currently underway.
Social distancing was imposed due to the pandemic, and this crisis brought attention to the need to own our homes. This was reinforced by the work-from-home approach adopted by corporates, which, in turn, led to the need for multifunctional spaces. These have resulted in more and more prospective investors beginning to consider owning a home in 2022 a realistic target.
The real estate industry is capitalizing greatly on the healthy growth of the Indian economy and its positive upward swing. The economy is slated to grow by 8-9%, and there will be a resultant increased demand for residential real estate. Incomes are increasing steadily, and so are the numbers of investors on the lookout for larger and more luxurious homes.
Home loan rates are lower today than they have been, making the dream of owning a home achievable for many. This has fuelled increasing numbers of home investors to avail of home loans to be able to purchase their homes. The conditions are favorable, and the market is ripe for Indians to achieve their dreams of owning homes in 2022.
Prestige Group prelaunch apartment is Prestige Aston Park.