The dynamicity of India as a secular country plays home to multiple ethnicities and their respective festivals. The concept of festivals is not just a celebration but a pompous occasion of renewal and fresh beginnings. Although the entire year is blessed with various occasions, the commencement of the widely held festive season usually begins from the month of September and goes on till the end of the year.
The piousness of the same lights up the optimism in the buying-decision behavior of prospective buyers and boosts the housing demand. This spike in demand is graciously fulfilled by developers and builders with a range of offers and price benefits that optimizes the buying decision.
The algorithm of real estate in India during this season has two viewpoints –
- The demand side – from customers “point of view”
The happiness instilled in individuals (usually the decision makers) and the joy of being together with their respective families often results into bigger decisions. Bigger financial decisions are made during this period owing to the piousness and harmony that’s in the air.
The never-ending urge to own a house is well complemented by the fact that real estate is one of the safest and most lucrative investment options. Additionally, the coming together of all the members, paces the decision-making process up.
Customers find themselves in light with great offers and beneficial lending rates to complement their purchase decisions.
In the present market, even with stagnation due to post-covid trauma, housing sales in the nation’s top 7 cities have already remained at an all-time high denoting a 36% annual growth at over 1.20 lakh units and are expected to rise further during this time despite rising property prices.
- The supply side – from builders “point of view”
Owing to the behavioral aspect of the market, real estate supply market tweaks their supply and offers during this season. It is often observed that to align with the positivity in the demand side of the market, developers and builders introduce attractive packages, price benefits, discounts, and gifts during this period.
Starting from discounts, price advantages, spin-a-wheel for free gifts, augmentation of products with modular kitchen or white goods, to price bundling, developers and marketers tap all the triggers to serve the optimized consumer behavior.
The festive period garners a lot of traction and footfall on the projects/exhibitions with prospective consumers finding it to be the apt period for any investment decision. This is augmented with better experience centers and events organized by the builders.
Remember, festivals are not only limited to feeling all the emotions but exhibiting these emotions into life changing decisions like owning a dream home. sellers, this is the best period to put emotions and customization to their offerings to garner maximum attention.
