In the 21st-century real estate industry became dominant, and it has exhibited charm. People moved to cities for their living, and this was the primary reason for the rise in the real estate market. In the start of the millennium, young people started to earn more, and this helped them own a house at a very young age. Also, it was easy to get loans from banks for real estate investments. Thus real estate market flourished at the start of the year 2019. Here you would understand about the current status of the real estate market and its various driving factors.
Real Estate Market-Reality
The home sales have been increased in the year 2018 by 24 percent. This percentage of increase in home sales is more compared to that during the year 2016. It also expected that the rate of home sales would improve further in the year 2019. Thus real estate developers strive hard to complete the existing projects in spite of various other issues.
It is happy news for home purchasers as the Real Estate Regulatory Authority have made the process of purchasing a home simple and straightforward. The demonetization announcement allowed genuine buyers to invest in real estate. Thus there was reasonable price rice for the real estate properties. Therefore developers who delay their projects can no longer withstand in the real estate sector.
Future Of Real Estate Market
There are several changes expected in the year 2019 after the General Elections. The results of the result would influence various certain things related to the real estate sector. Builders must be slow and steady in their investment plans in the year 2019. This would help to maintain the momentum of the previous years.
The above offers a clear insight into the current status and future of the real estate market.