Snippet: Most people talk about buying a property and the potential returns it can give in the form of rent and capital gains. But very few people talk about how to sell a property and get the best price for it. In this article, we delve into some unique tips to consider before going for the sale of your property. It will explore some tips such as repairing and sprucing up the property that might increase its resale value manifold. We also discuss how to decide whether to give an idle residential property on rent or sell it.
Is this the right time to sell your property?
Ever since the demonetisation of 2016, the real estate market has been rather lacklustre. In March 2020, due to the spread of COVID-19 and the resulting lockdown announced by the government, the real estate market suffered a big setback, just as with other asset classes. However, since then, the work-from-home trend picked up. This resulted in the residential real estate market bouncing back and it’s been doing reasonably well.
This turnaround in the real estate market is also reflected in the residential property sales numbers for FY 2020-21 reported by real estate companies listed on the stock exchanges. Some of the listed real estate companies have reported one of the best residential property sales numbers in the last few years. There...