Improvement in the overall economic sentiment coupled with liquidity due to a recent upswing in the equity markets has renewed consumer faith in real estate.
Developer Vijay Wadhwa advises parents to go for real estate investment for their child’s future. He further said, “Real estate is the best long-term investment. It remains in your child’s name, and the appreciation in value over the years makes it a safe and secure option. Or even while planning for your old age, real estate is always an asset”.
Looking at the current market scenario, Wadhwa points out that market sentiments are improving, and real estate is among the biggest beneficiaries. He said, “After witnessing slow movement over the past few months, Mumbai is seeing an increase in demand in the residential sector. Additionally, increasing focus on affordable housing for low and middle income groups has resulted in the launch of several low cost projects, most of which are concentrated in the peripheries of Mumbai. This has also opened up new investment options for those who did not have bigger investment units or major amounts that could be invested”.
Further he says, “Softening of home loan interest rates and correction in capital values by some developers has resulted in the anticipation of increased demand during the festive season,” says Narpat Mehta, director, Kanakia Group. “We are expecting an increase in demand from both end users as well as investors”.