Contrary to what most people believed after facing the devastating effects of the first wave of Coronavirus in Mumbai, the second wave of Covid 19 didn’t affect the Mumbai real estate market as much. If we had to be honest, the pandemic has changed people’s perseverance towards buying and owning a house.
What was once called the old school way of investment is back in style and has even become essential during the pandemic. Owning a house is not just an investment anymore.
A good house can be so much more than just a shelter above your head; with everyone trying to reap the benefits of the work from home culture in India, finding a house that is not just a home but could double up as a home office has made it into people’s checklist.
The good news is that the future of Mumbai’s real estate market looks brighter than ever. But, for the buyers, we think this is the best time to make that ultimate investment decision that you have been waiting to make all your life.
Here are five things about Mumbai’s real estate market future that will make you confident about investing now.
Mumbai real estate market value is only going in one direction – Upwards!
Why is Mumbai real estate so expensive? The term “unaffordable houses” was probably the most used term in Mumbai real estate market. But that was the case just a few years back, but things have changed dramatically now.
That means the pandemic, though bad, has possibly done something that no one would have imagined in their wildest dreams. It brought the value of the Mumbai real estate market down. So much so that you can finally look for some budget homes in Mumbai. It had a lot to do with the halted construction, the migration of laborer’s, their safety, and the list goes on and on.
But don’t expect the price to stay low. Since the lockdown was lifted, the Mumbai Real estate market has seen a massive rise in property registration.
It is even expected to break a 10-year record. That’s why we would advise you to take advantage of the current situation.
A smart buyer would turn to smart homes
The definition of a Smart home isn’t the same as what it used to be three years ago. Trust us, a house with good wifi and a smoke detector wouldn’t cut it anymore.
These days a Smart Home is expected to be smarter than your smartphone. But, if truth be told, smart homes these days have turned your super-advanced smartphone into its key element, quite literally. READ ABOUT SMART SECURITY TIPS FOR A SMART HOME.
From doing a quick grocery run to booking school appointments for your kid’s admission, you can get a lot done while sitting in your comfort own sweet home. So we don’t see why you don’t want to make this smart decision.
The future sure looks bright, but with fewer schemes
Pandemic was brutal, but for some, it was a total nightmare. No one understood this better than our very own government.
They knew that they could only overcome a global pandemic by keeping the people inside their house, even those who don’t own one.
This could only be made possible by lowering the interest on Home loans, which they did. As a result, the interest rate came down to as little as 6.6%.
As much as we appreciate this, we know, for sure, the future of real estate in Mumbai will not be this favourable to people. So we have already started counting days.
The heart of Mumbai is changing, but we aren’t complaining
We are sure that most of you will start visualizing South Mumbai real estate if we ask you to think about your dream home in Mumbai. Things have been like this for years now. However, Mumbai Real estate market is in for a considerable change.
People’s obsession over owning a house in town has seen a downfall. These days, people want to own a house that is conveniently close to all the convenience and emergency services.
It has even increased the demand for homes in the Navi Mumbai real estate market.
We have always believed that the real estate sector in Mumbai should only charge people for what they want and not where they live. Our dream is finally coming true – the heart of Mumbai is where your home is.
Luxury is the new affordable & we like it
Gone are the days of 1 BHK & cramped living. You deserve much more than that. You need a spacious, luxurious home, and most importantly, that welcomes you home with warmth and comfort.
Nowadays, people make sure that they get their money’s worth out of it. Therefore, it should have all the features that one can ask for, all while being infused with luxury.
To put it in simple words, everything about the house should make them feel special, right down to the elevator’s speed.
In a nutshell, the future of the Mumbai real estate market is not just bright for those looking for a house that their future generations can enjoy. But also for those trying to turn it into a great investment opportunity.