The real estate market has been experiencing significant growth for the past few years. Although the recent pandemic has affected the real estate market to some extent, the real estate market has bounced back in no time. And now, in the coming year 2023, real estate will boom back like never before. In fact, it is a piece of good news for investors. It is estimated that by 2023, the Indian real estate market will be worth around Rs.13,000 crores.
Every investor wants to invest in real estate for numerous reasons:
- It is an asset not impacted by stock market volatility.
- It often offers a consistent source of income.
- It can increase in value over time, resulting in capital gains.
- Real estate can provide wealth-building opportunities and tax benefits.
In 2023, several variables are anticipated to have a big impact on the real estate market and propel it forward, including:
Growing Economy
The economy of India has expanded quickly in recent years and is predicted to do so in 2023. As a result, both domestic and international investors will find it more appealing as an investment location.
Increasing Population
By 2023, India’s population is anticipated to grow to 1.5 billion. Housing and other real estate-related services will see an increase in demand as a result.
Lower Interest Rates
Interest rates on house loans and other borrowing products have continuously declined thanks to the Reserve Bank of India. This has made it simpler for potential purchasers to invest in real estate and buy property.
Government Subsidies
Recently, the Indian government proposed several subsidies for the real estate industry in an effort to grow it. This includes financial support for house building, tax advantages for developers, and other incentives.
Improved Infrastructure
In recent years, India has made significant investments in its infrastructure. The building of roads, ports, airports, and other related constructions falls under this category. This will make it simpler for individuals to travel and conduct business, which might encourage greater real estate investment.
The real estate sector will continue to be shaped by economic developments. For instance, low-interest rates and easier access to cash can make it possible for more people to enter the market. Rising salaries might raise demand for more expensive real estate.
To summarise, the real estate industry is anticipated to remain a competitive and dynamic environment in 2023, offering opportunities for investors of all experience levels. So, we know as an investor, you are thinking of the best real estate companies to collaborate with. If your answer is Yes, let’s get in touch with BBG, the leading real estate agency in Hyderabad and Telangana State. It has over 16 years of experience with around 1 Lakh happy customers. BBG India has successfully completed over 200 plotted land development projects across Shadnagar, Sadashivpet, Yadadri, and Visakhapatnam in the states of Telangana and Andhra Pradesh.
