BETTER PAY PROSPECTS HOLD GOOD FOR REAL ESTATE
In the article given below we’ll be discussing a very important topic that’s “BETTER PAY PROSPECTS HOLD GOOD FOR REAL ESTATE” let’s discuss it in detail:
The Corona-hit job market is actually set for better pay prospects next year, in turn further brightening the prospects of real estate.
In a recent industry survey, it is found that riding high on the recovering economy as well as businesses, nearly 87 percent of Indian firms are planning salary hikes in the next year. Furthermore, the average salary increment projected for 2021 is higher at 7.3%. These salary increments are expected to be led by sectors such as pharma, technology, FMCG, IT, ITeS, e-commerce, etc. This is really very encouraging, considering that this year due to the pandemic many companies gave out lower or no increments. The survey reveals that sectors like real estate, infrastructure and hospitality are watching positive growth in the coming quarter.
As stated by Mr. Pradeep Aggarwal, the Founder & Chairman, Assocham National Council on Real Estate, Housing & Urban Development, ” After the continuous pick up in business as well as economy, the prospective hike in salaries is a really good sign for recovering realty in this year of crisis. With low home loan rates, home affordability will improve because of the better salaries. Moreover, this will further help in home sales which are already seeing upsurge.