Will the Residential Real Estate Market Continue to Grow in the Future?

The real estate industry is constantly evolving and transforming into a giant that contributes a part to the nation’s progress. India is the most desirable location to live as the country is well-equipped with all the facilities that an individual would need. Residential developers focus on the priorities of new home buyers and how to provide an upgraded lifestyle. Kohinoor Shangrila in Pimpri Chinchwad is a perfect place where you can upgrade your lifestyle by investing in a residential real estate property in Pune and live surrounded by comfort and convenience.  

The residential real estate market has faced several transitions and transformations in terms of how an asset will be used, valued, and sold in 2023. The real estate industry has undergone several transformations. Following a pandemic-driven course correction in the past few years, the economy experienced uncertainty and a downfall. However, the real estate industry is now set to move beyond the past as strong and positive momentum is expected to continue. Furthermore, the market will grow in FY 2023 with a solid structure, rising demand, and lower home loan rates. 

Several rating agencies estimate that annual growth in Indian real estate is in the range of 8-9%. This surge can be the result of increased commercial activities, elevated job markets, and enhanced income levels, which will naturally translate into increased real estate demands. Let us now look at how the Indian real estate market will look in 2023. 

The Housing Market has Tremendous Potential 

 Housing Market

Previously, the housing market had been harmed by inflation, rising mortgage rates, and a scarcity of building materials. However, it is expected that this market will experience a strong revival. In the post-pandemic era, residential sales have already increased by 51%. Furthermore, Reuters predicts that house prices will rise by 7.5% in India overall. While economic indicators are positive, the government is working hard to craft policies that will aid in the revival of this sector. The housing market is expected to thrive in the coming years as a result of the expanding economy, a return to pre-pandemic working conditions, and a variety of other factors. 

Increased Investment Activity 

Over the last three to four years, the real estate market has been primarily driven by end users. However, trends are shifting, and it is once again on the investor's radar. Real estate is a wise investment choice if one has a medium to long-term time horizon. Furthermore, it has a high aspirational value. Real estate can also provide a steady stream of income in the form of monthly rentals. Both large and small investors in India are rediscovering the benefits of investing in real estate, particularly at a time when cautious investment is still commonplace. 

Moreover, apart from the stock market, fragility has persisted in other financial assets, which makes real estate a viable alternative. Real estate will be an exciting option to explore in FY 23 for long-term investors who are not looking for quick returns. 

Kohinoor Group in Pune is here to give you the life you deserve and upgrade you with the best facilities. With the growing real estate market, Pimpri Chinchwad has become the most desirable place to live and start a life. Flats in Pimpri Chinchwad Pune will inspire you to upgrade yourself to premium residential projects in and around the city of Pune.  

Kohinoor Group’s Shangrila

India’s residential index is on its growth graph and Pune and Pimpri Chinchwad is the most desirable place for people who are planning to buy a home in a metropolitan city. Metro facility starts from Pimpri Chinchwad and connects you to the city making a convenience factor to travel in the city. Pimpri Chinchwad gives you a serene vibe and is well-equipped with the best facilities for you and your family. 2BHK and 3BHK  flats in Pimpri Chinchwad are like a dream come true. Plan a stable life in Pune and book your premium home at Kohinoor Group’s Shangrila in Pimpri Chinchwad. 

Related Post - FAQs for Buyers to Explore the Refreshing Side of Pimpri

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