Bangalore Housing Market Predictions for the Rest of The Year 2020

Covid-19 hit the world in December 2019 forcing the world to a complete shutdown shifting all work tasks and essential shopping to the virtual medium. India, Asia’s third-largest economy, came to a grinding halt during the crucial month i.e. March 2020 almost up to June 2020 until the lockdown was completely lifted. The economic fallout affected all sectors including the real estate sector.

The economy is now slowly climbing back up, but so are the number of Covid-19 cases. While some believe the country is going to see a major dip in the economy in 2021, others see the present situation to be a lot better than the pre-Covid times.

Here’s how we think the real estate is going to fare during the rest of the year 2020:

• Sharp Increase in Demand for Bigger Homes

The global work-from-home experiment succeeded for a major chunk of the working population with employees and family members getting comfortable with the new system. Space has, hence, become a constraint for many. There is a need for each working member and children to have a separate working space of their own. This would explain the increase in demand and serious enquiries for 3 BHK homes in tier I cities like Bangalore.

• Accelerated Demand for Homes in Tier II and III Cities

The demand for homes in tier II and III cities are on the rise with reverse migration becoming a reality due to the pandemic. Added to this are the accessible pricing, more space, and a high return on investment. If not primary housing, individual are looking at buying “backup homes” in their hometowns.

• NRI Investment in Indian Real Estate to Go Up

The coronavirus outbreak has also majorly affected the Indian rupee. The fall in the currency against the US Dollar has NRIs looking at their homeland to invest. Investing in a home in India today would prove fruitful in the near future when real estate prices are expected to go up.

• Co-Living to Become the New Normal for Youngsters

The online classes, occasional term examinations and competitive tests, and general uncertainty about the reopening of colleges as well as offices have youngsters choose co-living as a more economic option over renting an entire home. This way, students and working individuals can travel to and fro from their hometowns to metros based on necessity.

HM Constructions is a popular group in Bangalore that offers spacious homes in prime locations making them a great place to live or invest in. What’s more, the builders are witnessing a surge in sales post the lockdown and are offering a great scheme applicable on their last 30 homes.

So, the scheme lets you own a brilliant luxurious home in the heart of the city for an initial investment of Rs.10,000 only. You can move in to the houses immediately and pay the EMIs after 5, 6, or 10 months even, thanks to EMI Holiday Facility. Add to this, you earn Rs.20,000 proxy rental too! Money saved is money earned so wouldn’t you want to own a home at Rs.10,000 and save Rs.20,000 every month while you are at it?

Call us on 8880225555 for a model flat visit today!