Why does the housing demand spike during the festive seasons?
Posted on March 30, 2022 by Sugee Group
Buying a house during the festive season is said to bring good fortune and abundance into one's life. People invest in a variety of wealth-building assets that are symbolic of the traditional sentiment. Additionally, the festive season adds a special allure to a home buyer’s intentions to build their ideal homes. The property market, in particular, experiences a renewed boost during these auspicious times.
Festivals like Makar Sankranti, Gudi Padwa and Diwali significantly encourages potential buyers to invest and spend on valuable assets. To meet these customer expectations, real estate developers in Mumbai create a variety of deals and discounts to entice the fence-sitters into buying a property, taking them a step closer to their dream home.
While the festive season’s impact on real estate is easily correlated, the past year witnessed another unusual factor, the Pandemic. The pandemic influenced people to re-evaluate the importance of owning premium flats in Mumbai, to ensure and maintain their standard of living as well as to have amenities that promote health and well-being.
Good Time to Buy
In India, making a purchase during the festive season is considered auspicious. It is an excellent time to make an investment as it is widely believed that the auspicious timing ensures the asset will bring future prosperity and appreciate in value over time. Anticipating this intention for value property investment, real estate developers and home buyers plan and prepare their resources well in advance to get the best value from the festive season.
Top builders in Mumbai line up various schemes and incentives in order to boost sales and benefit home buyers. Festive discounts heavily contribute to this outcome, signalling the start of improving the housing sector's performance around this time. As a result, a number of developers and real estate advisors provide discounts and flexible payment plans on property prices to assist homebuyers in making one of the most important financial and lifestyle decisions of their lives.
Availability of Housing Options
As a result of the rising property demand, assisted by the festive occasions; Mumbai now has a wide choice of luxury and premium well-designed homes. Land plots, spacious luxury flats in Dadar and other prominent areas, enormous and extravagant residential high-rises in Mumbai are all available to meet the needs of every potential home buyer. Homebuyers are generally more optimistic about these critical decisions throughout the festive season.
The increased potential for luxury and premium homes coupled with the above factors results in demand for designer homes with customer-centric personalization like dedicated workspaces with ergonomic features, quiet study rooms, modular kitchen fittings, fitness and entertainment zones, and balconies for the ultimate urban lifestyle.
In addition to these factors, a combination of elements such as health, wellbeing, comfort, and security, as well as reliable and guaranteed returns on real estate investments, has become the dominant criteria that fuel the housing demand throughout the festive seasons. So, if you want to buy a new home, look out for the next festive season.