If the current residential property prices in India are feeding on your dream to buy a home, you can always consider buying a flat available for resale. The following article sheds light on the scenario of resale flats. Read on to get detailed information.
Trend in the current situation!
Presently, you can see that the realty sector is contained in the cusp of transformation. Indeed, the trend in the residential property is set to become much more vibrant and dynamic with the ever-changing aesthetics in the policy reforms. The current situation and after the COVID-19 crisis has hugely impacted the world economy and as well as the majority of sectors around the globe. Whether you are talking about the real estate investments or accounting to the trending changes in the residential spaces, the situation has grasped the functionality to a much-pronounced state, right?
Are you looking forward to buying a home in a metropolitan city of India, then this is an appropriate time for you to invest in the real estate market. In recent years, real estate property prices have touched the golden line in the sky. The prices are expected to shoot up further in the coming years. Realty pundit’s predictions about the fall in the real estate prices have failed regularly and, therefore, this has created a state of anxiety among the cash-conscious customers. Today, clients are on the hunt for a luxurious, classy, and comfortable home at an affordable price; however, that seems to be a distant dream for the average earning class.
What should they do in such a crucial scenario? Should they sit back and wait for the prices to go down, or should they abandon their dream to buy a home? Thankfully, there is a way out of this tricky situation. A middle-class individual can always opt for flats available for resale. Yes, that is the best option available for common people in the present scenario. One can always look for resale flats in their vicinity and can directly converse with the sellers. Flats available for resale can be termed as an emerging trend in the country.
Resale Flats comes as a Savior
Resale flats are acting as a savior for the middle section of the society as one can buy them in suitable discounts from the sellers. There are times when the owners haven’t even shifted in them. Resale flats are light on pocket and are also equipped with modern amenities. They are fully furnished with modular kitchens and breathing balconies. Every individual has a dream to buy a home and i.e., where resale flats come in handy. The trend of resale flats seem to be catching fire, and therefore, one can easily hunt for them in metro cities. Cities, namely Delhi, Chandigarh, Pune, and Chennai, are rapidly becoming a hub of resale flats. Resale flats are in demand in the above-mentioned cities because today’s clients want to breathe in the urban lifestyle and live a good life. Regions like South Extension in Delhi and Pimple Saudagar in Pune are the emerging areas for resale flats.
Pimple Saudagar [P.S.P.S.] is an area in Pune, Maharashtra, known as the best residential area in the city. It is a plush and upmarket area where one can look for classy residential property. The real estate developers based in the region have built opulent apartments for the first-time buyers. Pimple Saudagar is an ideal place for to buy / sell homes as it is well connected to other parts of the city and offers schools, banks, and hospitals in the vicinity. The resale flats are in great demand in the region and have successfully managed to gain attention from the prospective buyers. One can effortlessly buy resale flats available in the range of 1- 5BHK imbibed with modern amenities.
What can be the main pillar of the transformation?
The year 2016 can be called as a whirlwind year globally. That’s because the united kingdom’s voted in June to leave the European Union and the election of businessman. Initially, you will observe these changes have caused heavy concern among the investors, and interestingly, it extends to the real estate sectors as well. In that case, you can find that the U.K.U.K. and the U.S.U.S. are home to prime commercial real estate assets! However, it is believed that the prime market would be remaining robust and attractive, while the other markets will provide investors with more profitable and stable alternatives to bigger markets. Here are some highlights concepts that can pace its importance to identify with the current trend on the real estate and property areas!
Adapting to the investors’ needs
Here are the two trends which would be continuing to rule the current scenario:
Start-up culture and outsourcing
These are the two trends which will further be boosting the demands of the office spaces for a future generation. Indeed, outsourcing allows the core employees and the executives to keep their offices in highly sought-after addresses, like London and New York. Yes, that is done to remain close to their top clients. And helps them move the bulk of their operations to areas or countries where rental prices and wages are comparatively lower. Therefore, outsourcing is known to increases the demand for conference rooms in central locations and expand their space needed for desks elsewhere!
What to expect in the U.S real estate market?
The American real estate market is expected to remain an attractive option for the Americans also for global investors because of its stability and transparency! Indeed, these are the two factors that the investors will always consider when choosing a market. The middle eastern and Chinese investors, therefore, now continue to look at the country’s property market for return. For instance, in the year 2016, the Chinese investors spent $28.6 billion in American homes and a 12-month period that ended in the month of March in the same year. This data is based on the numbers of the National Association of Realtors!
Apart from that, the country is experiencing a prevalent decline in the employment rate. Interestingly, you can see that in May 2016, the rate fell to 4.7%. Indeed, that is the lowest since November 2007! Overall, if you see, you will find that the positive employment figures in 2016 have considerably helped increase the demand for residential housing. In 2015, the U.S Department of Housing and Urban Development reported an increase of 25.5% in housing starts at a reasonably adjusted rate of 1.323 million annually.
However, in this case, the global economic uncertainty remains intact with the International Monetary Fund that projected a continued slowdown in global GDP growth in 2017! While U.K.U.K. decided to leave the E.U.E.U., it configured the potential that accounted for a significant impact on the country’ economy in 2017 and beyond. Yes, that includes its real estate market.
What Future holds?
The upsurge in the prices of residential property has made it burdensome for the average earning class and therefore, they can always opt for resale flats in urban areas. Resale flats promises a bright future for the middle class as the prices for the residential property might rise further in the next few years. Resale flats offer the same quality as unsold apartments and help an individual to fulfill his dream.