Demonetization has changed the look and feel of the real estate industry completely. Though is was a shock to the nation, here we are going to see how it affected home buyers:
The dual push of demonetization and digital India, pushed the people to invest money in banks and reduce ‘black money’. This further impacted the cash holdings of banks in the long run, with the result, that interest rates have dropped. For those looking to buy a house, the good news is the drop in the Housing Loan interest rates, which are expected to fall further in the near future. This is a definite boost for home buyers.
A drop in the interest rate directly impacts the monthly installment to be made. For a salaried person or a small business owner, this translates into a lesser burden on monthly income.
Since properties before demonetization were bought with a mixture of black and white money, investors who had invested large amounts of black money are looking to sell their share of apartments. This has led to a large inventory, further lowering housing rates and making it easier than ever to purchase a property.
Therefore, if we see carefully, over the long run demonetization has been a boon for home buyers. You can read more on it here:
Boost for Property Buyers due to Demonetization
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.