Is this the Right time To Buy a Flat in Trivandrum?
There are many avenues to invest your hard-earned savings in, and real estate presents one of the safest options. As compared to gold and mutual funds, real estate presents a rock-solid option with guaranteed higher returns over the long run. Since it’s a tangible physical asset, you can leverage it to maximize your revenue streams, while still benefitting from its capital appreciation.
The real estate sector has gone through a series of hits over the recent years, including demonetization, GST implementation, RERA, and the latest being the COVID-19 pandemic. All these factors have led to subdued property properties, lower interest rates on home loans and the easy availability of ready-to-move-in properties. The pandemic also taught people the importance of owning a home of one’s own, and now even those sitting undecided on the fence, want to buy homes.
Trivandrum makes an excellent city to buy a flat as there is so much happening here. Being the state capital has meant that the city has excellent infrastructure and easy access to basic utilities such as electricity and water. The city is expanding both vertically and horizontally and the real estate sector is booming here, with numerous residential projects being available all over the city. For those who want to buy flats in Trivandrum, there couldn’t be a better time than now to invest in this city!
The city is well-known for its premium educational institutions, excellent multispecialty hospitals as well as a tourism hotspot. It’s also famous for its burgeoning IT hub, the Technopark, which employs over 70,000 people. These numbers are touted to multiply further once the final stage of expansion is over. This has meant a need for more homes to accommodate the floating population of workers from outside the state and developers are hard at work to deliver more homes located in strategic locations.
The pandemic has taught people about the importance of owning tangible assets that could provide security for their family in times of hardship. Owning a flat in Trivandrum could also give you good returns on investments as rentals.
Since homebuyers went into a wait-and-watch approach during the pandemic, there has been an inventory buildup. This has resulted in a buyer’s market, with most builders being more than ready to throw in complimentary freebies like car parking, discounts or easier repayment options. Since builder’s need to move onto newer projects due to stalled sales, they are offering more perks. End-result is that homebuyers have more bargaining powers now, with many ready-to-move-in homes being sold at the rates of under-construction homes!
To provide incentives, banks are also offering substantially lower interest rates on home loans. Banks are now offering interest rates as low as 6-7%, something which hasn’t been witnessed in the past few decades.
Other upcoming major developments in the city are also expected to push the real estate sector with a greater need for homes. The city is expected to open up further with major projects like the Vizhinjam port, the ORR road and the light metro rail project.
Before these factors start to push home prices upwards, this is the best to invest in flats in Trivandrum. Sowparnika builders have a number of affordable luxury apartments spread out in key locations of Trivandrum. These include the Technopark area, Sreekaryam, Ulloor, Mukkolakkal, Pappanamcode, etc.
Sowparnika builders offer homes in both budget and luxury sectors and with over 7,500+ happy customers to back us, why don’t you invest in a Sowparnika home today too!