After one of the most tumultuous years in modern history due to the COVID-19 pandemic, homebuyers are on the lookout for larger, greener properties. They are also moving towards suburbs, secondary cities and vacation destinations world over. Vaccines against the virus will bring urban centres back to life and high street life is slowly coming back.
Senior citizens often find it challenging to buy a home. Multiple factors like a stable job, regular income, high growth potential and a greater number of years left until retirement work in young borrowers’ favour while applying for a home loan, bBut most senior citizens/retirees on a pension income meet the home loan eligibility criteria.
While not many Indians are buying, developers have seen a spike in enquiries and demand from non-resident Indians in the ongoing financial year. Developers say a weaker rupee, return of several Indians from Middle East and lower interest rates for housing loans are some of the triggers. As many as 40,000 NRIs could be looking to purchase assets in India. If this demand gets converted into sales once travel curbs ease, this could be a “historical high”, he said.
