In India, a home buying pattern can be seen during different seasons of the year. Due to certain aspects unique to each season, the demand for properties may be more or less, or the conditions to visit a property might or might not be conducive. Hence, talking about the real estate market, you might find that during a particular season, you are getting a lot of responses for your property while during another, things are not as active.

What is the Best Time to Sell a Property?

Festive/Winter Season

Starting from October and going on till January, this period is aplenty with significant festivals, such as Navaratri, Dussehra, Diwali and Christmas. Festivals are perceived to be an auspicious time in India to make investments and big-ticket purchases, such as buying a property. This is largely seen as the most favourable time in the year for property selling owing to the positivity and high amounts of buyer activity in the market. Many companies also hand out festive bonuses during this time, which are usually 15 to 25 percent of the annual salary, thus increasing the purchasing power of the service class. These factors showcase that this season can be an excellent time to put your property out for sale.

Let’s have a look at the other times of the year to understand the real estate market:

Spring

The end of the winter/festive season brings about the advent of spring, i.e. the months of February and March. As compared to the festive season, this period also heralds in plenty of property transactions.

You, as a seller, may come across many buyers who are looking to invest into a property to obtain investment proofs and save tax since the financial year, ending on March 31, is drawing close.

The announcement of employees’ annual increment happens around this time, thus spiking up their disposable income and consequently, spending power, leading to potentially increased activity in the real estate market.

Summer

This season, going through April, May and June, starts with popular festivals such as Gudi Padwa, a major festival celebrated in Maharashtra and Goa (celebrated as Ugadi in southern states of Andhra Pradesh, Karnataka and Telangana), which leads to an uptick in property transactions.

Then, there are also those home buyers who have the time and patience and may want to wait for a few months till the festive season, as they expect better deals during that period. Some end-users with kids might avail the advantage of their ward’s summer vacations and go and check out properties while some prefer to go on holidays with their kids during this time.

Nevertheless, there is always the heat, which acts as a deterrent for site visits and overall, there is not as much activity in this season as compared to the festive/winter season. Thus, with limited buyers in the real estate market, you may not be able to cash in the best profit out of the sale of your property during this period.

Monsoon

There are plenty of bottlenecks towards property sale during the monsoon season, which occurs from July to September. Many people see this as an unfavorable time for selling a home since major cities struggle with waterlogging and potholes on roads, traffic jams, and power cuts, thus discouraging buyer visits.

Many sellers also struggle during these months owing to unexpected issues, such as seepages and leakages in their property. Although, you might generally see less buyer activity during these months, there are some buyers who make it a point to specially checking out properties during this season to check its reliability and performance against the weather.

Additionally, large parts in India observe ‘aadi’ (mostly in South India), and ‘Shradh’ during these months, both of which are considered inauspicious times to make important purchases. Therefore, it would be advisable for you to take a look at how your property is performing during rainy days and conduct any work (could be repainting walls or repairing fixtures) as required, before calling on buyer visits.

Also read: https://www.thebestinvest.in/what-makes-a-perfect-home/

Conclusion

You should always remember that buyer activity across seasons is still affected by the overall economic condition and your area’s real estate situation. Hence, this information is intended to give you an idea of how real estate purchasing patterns in India go about in the real estate market. So that you know what to expect across different seasons as a property seller.

Written by: Jasleen

(Disclaimer: All the statements are opinions and perspectives. Hence, the accuracy of the facts is not guaranteed)