Festive season to boost demand, sales in real estate sector

Favourable economic and market sentiments will propel demand for residential and commercial real estate'

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The pandemic has also pivoted the focus towards health, wellness, and security and the realization of the importance of owning a bome is also driving the demand for residential spaces among customers across locations.

The Indian real estate sector has registered phenomenal growth during July-September 2021 despite the pandemic and is confident of growing stronger during this festive season. The sector remains buoyant with the favorable economic and market sentiments propelling the demand for residential and commercial real estate in the months to come.

According to the industry report, H1 2021 saw a 67% jump in sales in the residential real estate sector. New launches have also picked up and many realtors are confident that the auspicious season will drive the sector to the new phase. “Unlike the previous years, this festive season is expected to see a paradigm shift in the psyche of the Indian buyer, who is more cautious, however, smarter than before and plans strategically before investing.

Thus, the eyes are laid on the real estate sector, which has seen a significant increase in residential sales despite spiraling COVID-19 cases and is expecting a jump in sales in the festive season. However, in contrast to the previous years of an impulse purchase, this year will be regulative to the pocket strings of the buyers.