Top Real Estate Trends to Keep In View

Among all the factors of production, land is perhaps the only asset whose value only increases with time. There is a never ending demand for good land in the market for both commercial and personal purposes. And with the promising trends and lucrative offers observed in the business, real estate is an emerging investment option for people. Read on to know all about the many existing and upcoming trends of the real estate business and how it would affect the market.

A slow but steady increase in mortgage rates

Owing to the population growth we see a never ending demand for flats, apartments and housing complexes. An increase in demand is directly proportional to an increase in prices. This price hike can be observed since the year 2012, when one room apartment and homes were mortgaged at very high rates that You’re Losing Money by Not Using Real Estates. The year 2016 would witness a continuation in this prevalent trend however it would at a much slower pace than the ester years. Analysts predict a 2-4% increase.

The involvement of youth in the real estate business

India is known for its population, most of which falls under the age group of 18-35 i.e. the working class. This workforce or youth have disposable income in their hands and ambitions in their heads; they are a major demand force in the market. And with the market growth in real estate industries, will reflect particularly IT sector, in cities like Chennai, Bombay, Kolkata and Bangalore etc., we are already witnessing a massive shift, a migration of youth from the small towns to the urban areas. This leads to an increase in demand for accommodation in the major cities. This trend continues in 2016 as well.

Read also: Why Do People Think Real Estates Are a Good Idea?

Virtual or online real estate business will thrive

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With the majority of the population engrossed in their smart-phones and laptops, it is only logical that real estate companies would venture out into the virtual world as well. The many real estate websites such as Magic Bricks, OLX, etc. entrepreneurs are now expanding their business and market reach by reaching out to a larger audience base. It even helps you choose the right company and compare real estate rates online.

A new set of rules and regulations for buyers and sellers

The government has introduced a new mortgage lending rule namely TRID (TILA-RESPA Integrated Disclosure) which has simplified the previous complex regulation and has made mortgaging less cumbersome. Also the government encourages real estate developers to target the rural areas and outskirts of the cities. This leads to more development and a drastic growth in infrastructure. An increase in schools, hospitals, malls, flyovers and other architecture would result in overall development of the area.

The bottom line

Real estate in a pretty dynamic market and investors must always keep an eye on the prevalent trends to maximize their profits. The above mentioned points are among the top trends that economists have witnessed in the market. If you’re looking for good quality land in Chennai then Wisdom Properties is a reliable option for you. Experienced, trustworthy, and with a legacy of success, it is among the best real estate companies in Chennai.