While investing in property, it is crucial to wait for the right timing. You need to observe the market to understand when to buy, what to buy and when to sell. If you show haste in selling a property sooner that its maturing point, you may come to regret it later. In such a case, the more options you have for property investment, the better. So, let’s look at three more property types that provide a better appreciation scale in today’s market.
- Office/Commercial Spaces: With India being counted in the world’s fastest growing economies, the commercial and office sector is also on the rise. There is more and more requirement for office spaces, thanks to budding entrepreneurs and the vision of Make in India. As a result, there is the scope of gaining great appreciation on such assets. Over the recent years, the boom in the residential sector shifted onto the commercial sector. Now it’s time you reap the benefits with the right investment options.
- Shopping Units/Mall Units: The trend of shopping malls has spread across every major town and city in the country, with mostly profitable results. The culture of shopping in malls has taken hold of the middle-class urban population, and it doesn’t seem to be fading away soon. In fact, with every passing year the number of malls is increasing and the practice of buying from individual retailers seems to be fading. And why not? Everybody would prefer shopping at a one-stop destination where they would be able to buy everything they need. Especially for those in private jobs, this shopping habit that has become a necessity to save time and create convenience. As a result, it is safe to say that shopping malls aren’t going anywhere, and buying small or large office/shop spaces in a mall is a very good option.
- Damaged/Distressed Properties: These are the properties that are old and dilapidated, or in too poor a condition to be sold at the market price. Many-a-times these are foreclosure properties where the bank has taken possession because the mortgage could not be paid back. In all such cases, the price of the property is usually very low as compared to the market price for a similar property in good condition. There is a great hidden advantage here from the point of view of investments. If you buy such a property and then keep observing the market, you can make a very profitable deal. After spending a little to carry out the reparation work, or going all in to transform it into a top class property, you can then sell it off at a much higher price. The trick here is to understand that usually these properties are being sold off in a hurry because the original owners are apprehensive in spending any more money in maintaining the said property. Therefore, there are higher chances of them agreeing to a lower price, just to dispose of the property.