Investments must be made after strong contemplation of growth prospects only. Such is the case with normal circumstances; the present COVID-19 scenario needs no emphasis. Businesses across the globe are finding it difficult to sustain. Real estate market is one of the sectors that are still standing strong compared to other business areas.
The rise in the number of flats in Kochi, even during this period, is an ample example of this fact. Investors consider property investment as one of the most reliable options. The requirement of usable space is increasing with the rise in population. On the other hand, strict regulations towards preserving biodiversity have resulted in concerns regarding the availability of land.
The subject reasons have a direct impact on the price of the property. Viewing the previously mentioned situation, it is best to invest in property. However, you must identify a strong real estate market for investment during COVID-19. In this blog post we are looking into the topic:
How to Choose a Strong Real Estate Market during COVID-19?”
Invest in a Holiday Location
Money from external sources is the basic need for the growth of any place. The development plans will take the right form when people from other places visit any place to spend money. Holiday destinations have known to flourish with money from tourism. Such a place will reclaim its charm and value even after the biggest of the crises.
The best example here in Kerala. The state, with the tagline “God’s own country,” has been doing exceptionally well in tourism since the beginning of the new millennium. The beauty and serenity of Kerala have been alluring tourists in multitudes. The state has some unique advantages compared to other places in India.
The health and educational infrastructure of the state is outstandingly developed. Kerala is one of the most literate states in India. The efficacy of Kerala’s well-planned health infrastructure is evident in the way the state is fighting the COVID-19 pandemic.
Do not invest in an Area that has been Adversely Hit by COVID-19
Although none of the places around the world has been spared by the pandemic, some places have been devastated by it. It will take an ample amount of time for the places to stand firm again. Investing in property in those places will not reap you the intended profit.
Research about the place you are considering property investment. The real estate market prices may have come down too much at those places luring you. However, it is not wise to invest in property at those places, which will take another decade to turn to the development track.
Standard of Life
People like to settle at a place, which is safe, serene, and beautiful. The attitude of society, perception of the people, and climatic conditions are points that are essential aspects to be considered. You cannot have a satisfied and joyful life if you have owned a property among the discriminated people.
Your life can prosper when it is in the right place among the optimistic people. It will also have a positive impact on your children. The same is the case when you are investing in a property. You can find tenants easily for your apartment/ villa when it is at the prime location.
Kerala scores again in this aspect. The people of Kerala have been renowned for their indiscriminate attitude towards others. The life in Kerala is more peaceful and rewarding than any other place in the country. Hence, the place could be considered for property investment without any afterthought.
Importance of owning a house in the aftermath of Covid-19
The COVID-19 pandemic has put us into unforeseen circumstances. We have been observing safety precautions and directives to control the spread of the disease. Nonetheless, the efficacy of the measures has not been optimistic. Lockdown has been one of the most observed methods to stop the spread.
The COVID-19 pandemic has reminded people of the importance of owning a house. Staying alive and staying safe has become the motto of everyone on the face of the earth. Without any doubt, your own house is of ample importance in such a situation.
Banks have reduced interest rates, by which you can own a house without paying too much on interests. Further, a number of banks have also eased the loan process. Thus, helping the clients in obtaining a home loan without much hassle.
Since the correction subsequent to COVID-1 is a natural one, the world is expected to bounce back with added vigour. The real estate market property rates may go up exponentially during the subject period.
Is it wise to invest in Kerala real estate market?
Kerala has always been ahead of other states, in respect of the health and education sectors. With the change in times, the state has also started focussing on infrastructure development, compared to earlier days. The projection of Kerala as a tourist-friendly and progressive society has elevated the state to one of the leading states in the tourism sector.
All the above aspects indicate that it will be the wisest choice to invest in Kerala real estate market. There are reputed builders in Kerala delivering outstandingly designed and quality apartments and villas. Therefore, you can go ahead with property investment in Kerala unconcerned. The real estate market in Kerala promises growth, hence, the best choice.