Real Estate to BOOM after COVID-19…
Corona Virus has majorly affected not only the lives of people but the economy as well. Even countries like America and Italy which are called superpowers are worst affected. There is no industry that is untouched today with this global crisis. All the industries are suffering huge loses and the economy is in a global recession. Amidst the world struggling to control the havoc due to the outbreak, India has successfully managed the plague by the time. So there is a ray of hope for India. This is going to be brownie point especially for the Indian real estate industry. Do you want to know how then here are the reasons of it-
1. The world has no more faith in China.
2. Superpowers like America, Australia, and Italy started abhorring China and this will definitely result in the withdrawal of the business treaty with china. That may result in a complete boycott of Chinese products.
3. The way India managed the crisis, the world has now a single option which is India that has the most skilled manpower with the lowest cost.
4. In this scenario, the market will take time to be stabilized that is why stock exchange or gold is a way riskier for investors.
5. A large investment plan is to be introduced by the Indian government and banks to revitalize the economy.
6. With the early steps to control the virus to spread, India will rise above the outbreak much earlier as compared to other countries.
7. The successful initiatives like Make in India and Startup India will help in availing of the opportunity.
8. The demand for commercial spaces e.g. retail, offices, etc. will be hiked.
9. The reverse migration from other countries will be started that will spike the demand for residential apartments as well.
10. Due to lockdown, people will be started looking for a bigger living space, a better residential space. As people with 1bhk will desire to have 2bhk or 3bhk.
11. Many experts have predicted the real estate demand and therefore it is an ideal plan of investment for many investors and end-users as well.
12. Experts have also predicted the ROI which is 1.5 times for commercial property and 1.7 times for residential property in 3 to 5 years. However, rental property will be affected by some point in time.
13. India is heading to create numerous jobs in the next 5 years as it will be the manufacturing and export is going to spike eventually.
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