Onam is Kerala’s biggest festival. It’s a time for celebration. It’s also a peak season for home buying. Families reunite. NRIs return home. Many get bonuses. This creates a chance to buy homes. Developers launch new projects. They offer discounts. They meet sales goals. Buyers find many choices. Property expos and good loan deals appear. Kerala’s economy is growing. This helps families invest in homes.
Why Onam Appeals to Buyers
Festival Bonuses and Extra Pay
Onam bonuses and allowances add to savings. This extra money helps with down payments. It can cover first installments. Banks and developers offer deals. Bonuses encourage people to buy property.
NRI Arrivals and Money Transfers
Kerala has many NRIs. They return for Onam. They send more money home. Remittances increase by about 30 percent. Much of this money goes to real estate. Families use these visits. They finalize site visits and payments. Property expos target these buyers.
Strong Buyer Interest
Onam is Kerala’s top shopping time. Stores advertise a lot. They offer discounts. Onam ad spending rose in 2024. It should grow more in 2025. This happy mood helps big buying choices. It encourages home investment.
Developer Offerings During Onam
Launches and Holiday Deals
Developers offer timed deals. These attract buyers. Deals include help with taxes. Some offer free appliances. Others give gold. Offers change yearly. The goal is to create urgency. It makes buying a home feel better.
Property Shows
These shows group many projects. Buyers can compare options. Developers from many cities attend. Buyers see new projects. They find special offers. Roadshows in other countries help NRIs. They explore investment options. Buyers use festive trips for paperwork. These shows are a single stop. They help find and buy property. Local fairs boost new projects. They highlight emerging areas.
Bank Loan Deals
Onam brings special home loan plans. Banks offer lower rates. They speed up approvals. NRIs get special offers. These deals make buying easier. They make it more affordable. In 2025, some loans start at 7.49%