Due to the Covid 19 spread nearly 2.5 lakh NRI working professionals both keralites & non-keralities returned back to Kerala, which is the biggest reverse migration in recent time. We have seen such migrations before during the war times & financial crisis of 2008. Despite of this situation the sales of premium homes increased in Kerala and this has shown a drastic growth in the real estate industry. When there is distress in the Gulf, NRIs from Kerala try to withdraw their savings and invest in something closer home which is more secure. There are even celebrities are investing securely on real estate now due to upcoming financial crisis.
When financial shocks due to the coronavirus outbreak hit the West Asian economy, lakhs of Indians and their families settled there had only one choice: return. This reverse migration-led rebound in home sales in Kerala comes at a time when the real estate sector has suffered a huge blow elsewhere in India owing to covid-19. The enquiries have also increased now by almost three times compared to January 2020
Another important thing is that during this covid situation, Kerala government’s effective preventive measures have made interests in non Keralite NRI’s to invest in real estate in Kerala, especially in the sales of premium segment villas & homes, The ongoing weakness in the equity markets will further aid the sentiment and revive consumer interest in the sector. The value of properties in the real estate market will, therefore, remain stable.
The financial protection is the main motive for everyone so the real estate investors will seek greater transparency and trust in their investments. As economies expand, the demand for real estate drives rents higher and this, in turn, translates into higher capital values which make real estate a secure investment in that sense. Financial security is foremost on people’s minds and one must deploy their money through multiple avenues. In the current situation, real estate offers you the best bet — stability, security and safety.
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