Are you planning to invest in real estate on the upcoming festive season?
The festive season is one of the most important times of year for this industry. Here in this blog, we will share you the reason why you should invest in real estate on festival season.
How The Festive Season Is Changing Real Estate
The real estate market is going through a period of flux and uncertainty. So it’s not easy to predict what’s ahead. One thing that might happen during festive season 2022 is that properties on festival sites will be more sought after. People who follow these festivals will want an extended stay near the festivities. Developers should prepare for increased demand by either boosting capacity or committing to making their best property available at all times.
How To Maximize Real Estate Business During Festive season
The Indian real estate market has seen a lot of highs and lows over the years. The festive season is one of the most important times of year for this industry. Since it’s only a few weeks away, now is as good a time as any to strategize about how you can best maximize your sales during this period.
Here are three ways you can get ahead of everyone else during the festivities:
- Watch your competition closely.
- Look into discounts that are likely to be offered by other sellers to determine. If you should make price adjustments to avoid ending up with unsold inventory.
- Increase advertising campaigns early so people know what’s available at each location and have time to plan out their holiday moves accordingly.
Tips For Working With Buyers During Festive Season
Although the festive season doesn’t officially begin until Christmas Day. It has become the busiest time of year for real estate brokers. But despite this, there are some ways you can work with buyers during this festive season and make it easier on yourself.
The following tips will help you navigate all aspects of a hectic time and deliver excellent customer service:
Make sure your team is well-prepared. This includes updating emails, social media profiles, website content, etc. It’s important to streamline your communications with prospective buyers and avoid distractions or delays to ensure they have a seamless experience while looking at properties.
The Future of Real Estate
India is poised to become one of the largest retail markets in Asia. With its government investing heavily to create a global supply chain. In November 2018, India’s Prime Minister Narendra Modi unveiled a program of reforms that promised to ease many bottlenecks holding back investment and development. These reforms are part of an ambitious $1 trillion package of policies called The India Economic Vision 2020. They will benefit all areas of the economy, including real estate development.
What trends does the future hold for consumers?
- There has been a resurgence of interest from Westerners, who have noticed the hype around India’s Eighth Wonder. They are looking to enter new markets where there is now strong global economic growth.
- India’s need for modern real estate should drive rents up by 2030.
- Rents could continue to grow if income levels rise as people will be able to afford more. But this could put even more pressure on availability of affordable housing as demand is much higher than supply right now.
- The government also needs to facilitate construction by loosening restrictions and rolling out incentives and subsidies so that they can meet demand.
How businesses can capitalize on consumers’ changing preferences.
Dwindling home-ownership rates, growing rental markets, increasing smartphone penetration and improved urban infrastructure has led to a rapidly changing consumption paradigm in India. This should be taken into account by both real estate developers and consumers when projecting future trends and making decisions around the real estate sector. Today’s generation is increasingly conscious about work-life balance which has altered what they want from an ideal living situation.
New Ways to Leverage Technology in Delivery, Service & Cost Savings.
The real estate market has seen a number of changes over the past couple of years. In order to compete and capitalize on opportunities, developers and other organizations need to focus on various new ways they can leverage technology in delivery, service and cost savings.
Here are some great examples:
- Revenue management systems: This strategy brings a variety of opportunities such as streamlining billing, upselling services and boosting cash flow through different channels. It also lets companies track the performance of different properties within their portfolio easily.
- Virtual reality (VR): VR helps homebuyers experience what it’s like to live in a particular property by immersing them in 360-degree views from any spot or room within that property.
Generational Factors That Are Impacting Future Needs of Consumers.
Numerous factors will be influencing changes in consumer needs within the coming years. Many of these factors are being exacerbated by what has been dubbed the generation we don’t know. These are individuals born between 1995 and 2015. As they continue to grow up, they are increasingly altering their preferences. Some of these changes may affect the future of Indian real estate markets, which have traditionally focused on buyers seeking to buy a house before they get married and start a family.
Things that are going to Change your Business Forever.
With festive season just around the corner, it’s time to think about how your business might be affected by 2022. One thing that’s going to change is our relationship with traditional offices. With an influx of remote and mobile workers, fewer and fewer companies are paying rent on buildings. This will start to change India’s real estate market, as commercial buildings will stop being used as a form of savings or wealth building.