Thinking of buying a house? Is the holiday season a good time to invest in real estate

Thinking of moving into your own home or buying a second? Many buyers view the holiday season as a great time to buy a home. Real estate as an investment asset class has countless advantages if the right location, developer and design element are chosen. The festive season of Dussehra and Diwali is considered to be investment-friendly. Living mint spoke to real estate market experts about the right time to buy a second home.

Suren Goyal, partner at RPS Group, said buying properties during the festive season is mainly driven by three reasons: a) it is seen as a good time to invest in something valuable; b) It is also a time when new real estate projects are launched; c) Real estate developers are known to deploy attractive offers and schemes to attract buyers to their projects.

But the biggest factor driving people to buy homes today is their experience during the Covid-19 pandemic and the lockdown. This has caused people to rethink their priorities, and hence owning a home has gained importance as it means comfort and security, Suren Goyal added.

Buying a second home makes sense right now, as developers are offering discounts and other great offers during the holiday season.

Ankit Kansal (MD and Founder, Axon Developers) said that in Maharashtra already the secondary markets of Panvel, Alibaug, Lonavala, etc. are beginning to witness a major shift in demand with the Ganpati festival.

Meanwhile, other major markets such as Goa, Sindhudurg & Konkan, Nainital, Dehradun, etc. are also enjoying strong demand. In southern markets like Ooty, Nandihills, Bannerghata, Vizag, etc., demand is also picking up, he said.

Overall, the market for gated villas, second homes, farms, etc. is growing at a breakneck pace.

“Developers and/or financial institutions work in tandem to deliver irresistible deals and offers that help many pretentious people close the deal and capitalize on high demand to accelerate sales. For the buyer, it becomes imperative that the objective of the investment be clear, whether it is for recurring rentals, appreciation, holiday stay or retirement home,” said Ashwinder R Singh, Residential CEO, Bhartiya Urban

Arete Group Director Siraj Saiyed said the real estate sector has made a tremendous comeback after the pandemic. This trend appears to continue to gain momentum in the upcoming holiday season when buyers tend to invest in properties as it is considered a prime time to buy a home.

“Another major factor driving people to buy homes today is their experience during lockdown when we were restricted to staying within four walls. It made us rethink our priorities, and so owning a home has grown in importance because it means comfort and safety,” said Siraj Saiyed.

“The festive season is also when luxury properties come down to reasonable prices,” said Anurag Goel, Director of Goel Ganga Developments.

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