We found 0 results.
View results
The real estate landscape has changed due to the ongoing Covid-19 pandemic. Unlike other tumultuous market instruments, real estate hasn’t made much noise since March 2020. While there has been a significant dip in land prices due to the dip in sales from March to June, prices have been moderately steady ever since.
However, the changed circumstances caused by the pandemic, reduction in real estate prices, predicted increase in the cost of homes in the near future, and current financial instability among the masses has had an effect on the real estate sector.
Here are the latest news stories on real estate:
- Millennials Looking to Become Homeowners
Back in February 2020, Financial Express had reported about a survey conducted by 360 Realtors pointing out that more and more millennials are looking to buy a home in the near future. In fact, 75% of millennials showed serious interest in buying a home within the next 3 years. The stock market volatility, prevailing uncertainty, and economic turmoil have only fuelled the housing demand. As opposed to the traditional school of thought that viewed home buying purely as an investment, millennials today view it as essential.
- Bangaloreans Rethink the Size of Their Homes
The new work-from-home culture has pushed the residents of Bengaluru to think bigger and upgrade to 3BHK homes from 2 BHK homes. Also, the pandemic has families looking for better homes, less cluttered areas, and better societies to practice social distancing and safeguard themselves from COVID-19-like crisis situations.
- Rents Dip as Tenants Move Outskirts in Search of Cheaper Homes
Ask any migrant tenant in Bangalore and they will lament about the high deposit amounts and monthly rent amounts. Now that daily commute to schools, colleges, and workplaces is out of the question, people are looking to move towards the outskirts where rent is much cheaper.
- Techies and Entrepreneurs Invest in Real Estate as Prices Drop
The IT/BT crowd, as well as entrepreneurs and self-employed individuals, are gravitating towards buying luxury homes for the purpose of utility housing. Builders report that the number of serious enquiries has gone up drastically and the interest for fully-constructed apartments and gated communities have peaked of late.
- Karnataka Government Pressured to Cut Stamp Duty
Trade bodies and prospective home buyers urge the state government to reduce stamp duty to increase realty revenue. Though the state had reduced the stamp duty from 5% to 3%, it was applicable only for property in the Rs.21 lakh to Rs.35 lakh range. A reduction of stamp duty for properties of higher value plus differential pricing for women (like in Delhi and Haryana) would give new impetus to single women to invest in real estate.
HM Constructions is a reputed group of builders that offers 2BHK, 3BHK and 5BHK state-of-the-art homes that would perfectly suit your budget and taste. From affordable homes to luxury apartments, find your dream home with HM.
Call us on 8880225555 for more info, today!