June 9, 2020

Real Estate Prices to grow due to the pandemic.

Rakesh Reddy, Director, Aparna Constructions, For 99acres

Before the coronavirus crisis, there was a steady growth in the prices and demand for residential spaces. But as the threat of this disease spread across our nation, people have realized the importance of owning a home which has increased the demand of the sector further, hence leading to growth in the prices of properties. In a recent conversation with 99Acres, our Director, Mr. Rakesh Reddy shares his thoughts on this issue.

Property Prices may hike in Hyderabad:

The city provides high-quality housing options at affordable rates, which remain unaffected due to construction delay. Further, some recent policies by the Government favour the sector’s recovery from the slowdown and construction delay. These factors are bound to bring growth in the property prices in the city.

Home Ownership to become the New Trend:

Owning a Real Estate Property is a safe investment option in the long term. This has been reinforced in the minds of people due to the global pandemic. So it is expected that in the coming years, the demand for owning a property will drive people, hence helping with the growth in the prices.

Affordable Housing to receive Higher Traction:

Out of all the other factors, Affordable Housing is what most home buyers are looking for. Property prices and job mobility remain the largest driving factors for affordable housing, especially after the global crisis. This will drive more demand for smaller houses as they are more convenient and affordable for a large group of people, which will cause growth in the prices as well.

You can find more details in the complete article by 99Acres: