Indian real estate is facing a tough time. The Indian property market had already been grappling with a difficult situation. The global Coronavirus pandemic has made the situation even worse.
Should you purchase a house or invest in property in the current situation?
Short answer -- yes!
Why you should invest in the current real estate market?
With the ongoing crisis, the market is under immense pressure. This means prices have taken a massive beating. It's a buyers' market right now. If you are a serious buyer, developers and property owners are willing to sell for a lower price.
Here's a quick list of the reasons why you should buy a house in the current turmoil.
1. Prices have take a beating.
2. Lack of buyers means better negotiation power.
3. Not many buyers also means better choices in properties.
4. Lower prices can help increase your return on investment.
5. Buyers have the upper hand in the current market.
If you can afford to invest in properties right now, take the leap. Don't squander away this investment opportunity.
The right time to enter a market is when people are selling and the sentiment is low. Real estate is facing a similar situation right now.
You can find great properties at a cheaper rates. If you had explored investing in any property earlier, but didn't execute it, you can reconsider it right now. Talk to the developer / property owner. You might be able to get much better price.
Many distress sale are also happening right now. Got cash to invest? You can buy out existing investors and property owners. It can be a great time to build your own real estate portfolio.
High networth individuals are currently very keen to invest in commercial real estate. Given that investors will smaller pockets are out of the market, those with deep pockets have the advantage. Big investors are using the opportunity to invest in commercial real estate such as offices and retail spaces.
Stop wasting your time. If you have the money and desire to build your real estate portfolio, scour the market. You can create your real estate portfolio for a recurring rental income. People have started coming back to retail shops, though office market is still low. However, you can reap better valuation returns right now. Also, the office market will improve with time. Get into action!