Festive season brings cheer in real estate market
Buyers are back in the market and property searches have surpassed pre-Covid numbers, says the Magicbricks Property Buyer’s Sentiment Survey.
A quarter of respondents are looking to buy property as an investment: Deals and discounts during the festive season have attracted investments into the market. More than 1/3rd of the buyers will only buy if there is a discount available.
Buyers responding to festive discounts: Interest rates are down and stamp duties have been slashed. Developers have introduced innovative marketing techniques and discounting plans to sell inventory.
Most don’t expect further fall in prices: There is growing maturity in terms of price expectations. However, discounts can be a buying trigger.
Healthy recovery very likely in 2021: Price stability, cheaper home loans, pent up demand and improving economic indicators likely to trigger further demand.