Most real estate experts agree that Coronavirus only halted, rather than stopped, potential investors from purchasing a home. The majority of first-time homebuyers simply postponed their plans and waited for the pandemic to pass. Despite the fact that the Coronavirus posed significant challenges to the entire real estate industry, the property market has recovered and will undoubtedly prove to be a rewarding year for first-time homebuyers. Here’s why this year will be fruitful for them.
The Russia-Ukraine conflict has once again destabilized the global investment environment, and any price increases will most likely be postponed until the end of the year. Even though property prices have risen in some areas, they are still reasonable and keep the property market accessible to first-time homebuyers.
The decision to invest in real estate is both financially and emotionally demanding. Whatever the case may be, If a property is purchased for the purpose of living in the short term, the element of return on investment and price appreciation is always present in the minds of the investors. First-time investors aren’t passing up this opportunity because of the attractive and affordable real estate prices.
Furthermore, real estate experts predict that real estate prices will have risen by more than 30% on average by the end of the year. Money put into real estate today will grow into a rent-paying asset tomorrow. There has never been a better time to invest than now.
The Indian government is working hard to achieve its goal of ‘Housing for All’ by 2024.Through flagship schemes like the Pradhan Mantri Awas Yojana (PMAY) and affordable rental housing schemes, the exchequer is working hard to make housing as affordable as possible.. The recent budget extended the Pradhan Mantri Awas Yojana (Gramin) was extended until 2024 in the recent budget. This demonstrates a long-term commitment to the affordable housing market.
About Migsun:
Migsun Group is one of northern India’s fastest-growing real estate company, with a diverse portfolio of development segments, including residential, commercial, and retail. With over 2 crores sq. ft. of space, Migsun Group believes in creating magnificent, sustainable, and future-ready developments and communities with a global outlook in both developed and under construction areas. Migsun Group has an unrivalled scale of delivery and an unmatched track record of customer-centric service excellence, backed by the trust of over 12,000 happy customers. Migsun has changed the real estate landscape in India. The company has made a name for itself in India in fields like education, hospitality, film production, and skill development over the years. All the projects are based on transparency. Migsun treats customers with the utmost respect for the trust that they have shown in Migsun. With the growing confidence placed, Migsun has held transparency as the guiding principle.
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