Source: Construction Week —
Festivals, particularly those that herald the beginning of a new year like Gudi Padwa, are often the harbingers of new hope and positivity. This cheerfulness and optimism also get reflected in the economy as the demand surges for everything from cars to homes. The religious belief associated with expensive purchases like real estate, vehicles and gold is the critical reason why we see sales soar across sectors during certain festivals.
In the case of specific festivals like Gudi Padwa, Akshay Tritiya and Dussehra, it is often a tradition to buy gold, book a home or invest in any other wealth-creating assets as it is believed to bring good luck and prosperity. Given that the real estate sector has emerged from the pandemic-inflicted slowdown with newfound vigour, most realtors expect the festive season to boost sales of real estate assets especially homes (residential).
