Makaan.com analyses the trends in the property market and discusses whether it is the best time to buy one's dream house.
, MakaanIQ.com | Capital Expertise: Property
Real estate companies, developers, builders and brokers try to offload their inventory during this time to avoid big permanent price cuts and make maximum sales.
But what do these schemes signify? What should the buyers expect? Makaan.com has listed the reasons and the offerings of buying a property during the festive season for the benefit of the home buyers.
Festive season is the best time to buy a house; Why?
During the ongoing festive season, buyers are flocking to buy some of the best housing deals in most of the localities. As per Makaan.com’s research on Homebuyers’ Expectations this Festive Season the overall mood among home buyers is upbeat with majority of them being optimistic about purchasing a property during the festive season.
The desire to finalise a property seems to be more intense this year as the buyers are looking forward to support from the developers. One-third of developers’ sales happen during the festive period that starts from October and goes on till March; but why is there such deep significance around buying a home during the festive season?
Is it only about the freebies and schemes that the developers offer? Or is there more to it? Let us understand the reasons behind the traditional trend:
As a result:
The adults get a place for Golden Years
Children grow up in a secured environment
Traditionally, these months see better property sales compared to the first five months of the financial year because they are considered auspicious for buying property. This year, the festive season offers in property market have increased considerably as the sector is experiencing high inventory levels with low sales throughout the country. Real estate companies are rushing in with cash discounts, freebies and schemes ahead of Diwali, a time that registers high volume of home sales in the country.