When is the Best Time to Buy an Apartment?

The Covid-19 pandemic has affected all sectors and industries worldwide. Real estate is no exception. The sector suffered a major slump in the months of March and April when the country was shut down due to back-to-back lockdowns. Soon after the unlocks were announced, the sector quickly got back on its feet.

Since most families are now working from home almost up to June 2021, to ensure social distancing, the need for bigger homes has gone up significantly. A report by Money Control stated that the demand for large homes in Bengaluru, mostly 3BHKs has increased by a whopping 40%. This would allow all members of the family to have dedicated workspaces for work and study.

Demand & Supply Mechanics

Industry experts and builders foresee prospective demand for apartments in metro cities. A major section of the society believes that real estate is a good investment opportunity albeit the pandemic, thereby maintaining the demand for homes bought for investment as well as end-use.

The revival of real estate can be witnessed through the increase in residential sales volumes by 55% in the July-September quarter. The 26th Knight Frank – FICCI – NAREDCO Real Estate Sentiment Index Q3 2020 Survey projects the ‘Future Sentiment Score’ for Q3 to be at 52 points, a 41-point increase from Q2. The ‘Current Sentiment Score’ for the past 6 months has also seen an increase to 40 points from the previous low of 22 points.

Why NOW is the Best Time to Buy an Apartment

The present situation is highly suitable for anybody looking to buy a new home. Here’s why:

• Extremely Low Home Loan Interest Rates: The need for bigger homes and decrease in home loan interest rates to a 15-year low has pushed up the demand.
• Higher Disposable Income: Working from home has also given people extra disposable time that was otherwise spent in the workplace or commute. This has further sped up the decision-making process resulting in higher sales volume.
• Urgency to Move to Bigger Homes: The inclination to move into ready-to-move-in homes has shot up, given the urgency to move into a spacious new home at the earliest.
• Protection Under RERA: The new Real Estate (Regulation and Development) Act, 2016 offers optimum protection to home-buyers and encourages financial transparency in builders, doing away with the movement of unaccounted money.
• Revised Inventories: All blocked inventories have now been released with the unlocks and opening up of markets. So, prospective home buyers now have a wider scale of options to choose from.
• New Launches: All new launches that were put on hold due to the pandemic have all been launched. The advantage of new launches is that the properties are offered with no frills, proving advantageous for a profitable resale of the property about 3 years down the lane.
• Appealing Schemes by Builders: Builders such as HM are offering brand-new homes under attractive schemes to push sales and restore equilibrium in the realty market.

Moreover, industry experts opine that when the coronavirus situation is dealt with, property prices are most likely to increase further. So, a delay in buying a home would be hard on the pocket at a later point in time as one would have to pay more for the same property that is available at a much lower price today. The projected increase in property prices will prove beneficial if investments are made now so that they can be sold for a profit when prices shoot up.

HM Showers Offers on Prospective Home Buyers

As established here, it only makes sense to invest in an apartment as soon as possible. We, at HM, understand that the pandemic may have impacted the businesses and jobs of our prospective clients. Thus, we have announced a brand new home-buying scheme for the last 30-odd apartments at HM Indigo so that you no longer have to delay owning your dream home!

The unique scheme lets you book any of our spacious units of your choice at a token amount of Rs.10,000 only. Since the units are ready-to-move, you can finish up the formalities and move into an apartment of your own in just 10 days. What’s more, once you move in, you can let HM take the burden of your EMIs! The EMI Holiday Facility lets you postpone your EMIs by 10 months so that you may enjoy your stay at HM Indigo for nearly a year before you start paying the EMIs.

So, stop worrying about your monthly rental and book an HM Indigo apartment today.

Call us at 8880225555 for a home tour, today.