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Real Estate in the times of COVID-19

by with No Comment BUSINESSCOVID-19Real Estate

Even though we face the difficulties of today and tomorrow, I still have a dream.

Martin Luther King Jr

Never in the history of mankind have we been united before this way n fought globally against something. COVID 19 has surely shown us who’s united, smart to act quickly on problems n also helped Mother Nature heal.

But with all the above benefits, come a few, or rather quite a lot of negatives too. The most important being, a global slowdown*. Today, 3 Works is majorly discussing the impact of the lockdown n how it will affect REAL ESTATE & it’s performance.

Real Estate as a sector, as known to all, hasn’t been very lucrative for the last few years, with a lot of major reforms* like Demonetisation, GST & RERA coming into picture. So sometimes, the good part is how worse can something get that’s already pretty bad?

Our answer to this is as follows:

  • Developers who adapted to the changing trends in the market, have been selling well till before the lockdown too. Yes, it hasn’t been doubling your money in a few years like it used to before, but houses and properties will always remain in the top 3 categories for investors in a country like ours.
  • The change has been slow but sure from being a seller’s market to being buyer’s now for a while. It’ll continue to be so. In the Residential segment, properties that are nearing completion or RTMI/RTLI (Ready To Move/Live In) will continue to have a higher demand. End users will surely be slower in taking decisions now with the liquidity crunch and the salaried being a little hesitant due to salary and job cuts. The mid segment will be the most affected as these are usually not first time buyers yet usually end users looking at an upgrade. The affordable segment will continue to do better, since it’s more need based.
  • No segment will remain untouched after this period and most A grade Commercial projects should also look at some correction in price. But an overall demand hike in the next 3-6 months is expected as stock markets have been plummeting and will take sometime to reach back to a good number since share prices are affected more by global economy than any other asset class.
  • With scarcity of land parcels in prime locations, land prices have gone up unrealistically in the last few years, the cost of construction in general has become steep as well. With the lockdown n most labour having gone back to their hometowns and work going on halt indefinitely, expect delays in possessions. Since the fixed costs are only going to go higher for the developers, expect discounts but nothing too high as they themselves will be cutting down drastically on their profit margins.
  • Expect great offers if you’re buying in more quantities or larger spaces than usual numbers for any project. There are chances of getting attractive payment schedules despite a good price. The final and the best offers come out only across the table with the client sitting to close with the payment in hand.
  • F&B/Retail units have been quoted very high too since times immemorial n we hope to see some correction on that front too.
  • New launches might take longer to come out in the market as every developer, irrespective of their size and brand value, would first want to liquidate the unsold inventory.

The best part about investments in real estate is it creates a passive income and is a great long term investment for wealth accumulation. Your strategy to build your portfolio and inheritance isn’t complete without adding few residential and commercial properties in it.

3 Works will help you with all that you need for buying that property which suits your needs ~ financially, timely and aesthetically.

 

*The above article is merely an attempt to analyse what may or may not happen in the future. Every point could be debatable and we don’t wish to force anybody to agree with our thoughts 🙂

Be home, be safe!

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Working for You!

by with No Comment BUSINESSUncategorized

Over the last few years the dynamics of marketing has completely changed, what use to be through word of mouth, now try to venture in completely stranger market through virtual and digital media. But in this highly evolving world it’s rare to find company which balances the both. Meet 3 Works a Pune based Consultancy Group that helps its clients based on their specific needs to provide the perfect solution without losing the personal touch.

They believe that working hard for something they don’t care about is called stress, working hard for something they love is called passion. It is with this passion that they came together to bring this change in this monotonous industry with herd mentality.

If Marketing is their heart, the heartbeats are their client’s business and brand. They are an integrated marketing agency too, offering a range of services, from creative design and digital marketing to branding and strategy development.

Be it catering to a family buying their dream home or a company wanting to market their product, they do it all.

People often say, ‘Home is not a place, it’s a feeling’ and being a committed brand, 3 Works is here to help our clients realise the same by redefining home search. They seem to be the committed realtors with lot of passion and experience.

As they say — “We are Working for You. Always!”